Constancy Worldwide, a spin-off from the U.S. monetary companies big Constancy Investments, has invested $14 million within the Hong Kong-based operator of crypto trade OSL.
In accordance with public disclosures on Friday, Constancy Worldwide purchased 17 million shares of OSL proprietor BC Group at a value of HK$6.50 (US$0.83) per share, which brings it a 5.6 p.c stake within the agency.
The funding is a part of a $36 million share placement Hong Kong Inventory Alternate-listed BC Group introduced final month. Whereas the transaction was accomplished Feb. 12, the names of the buyers weren’t disclosed till in the present day.
One other main investor that participated within the spherical is Eternity Funding Restricted, a Hong Kong-based funding holding agency primarily targeted on jewellery merchandise.
One of many largest crypto exchanges in Asia, OSL targets institutional and particular person buyers with buying and selling, brokerage and custody companies.
“We’re excited to see that world-class fairness buyers are more and more taking part within the fast-growing digital asset sector, and we sit up for reaching new milestones with our industry-leading institutional buyers,” BC Group CEO Hugh Madden stated in an announcement.
Constancy Worldwide was based in 1969, initially as an funding subsidiary to the Boston-based monetary big concentrating on abroad markets. It was spun off from Constancy as an unbiased entity within the 1980s.
In accordance with the corporate’s personal disclosures, Constancy Worldwide was managing whole consumer belongings of $418.eight billion throughout Asia, Europe, the Center East and South America as of June 2019.
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