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The OSL Group plans to acquire 90% of Evergreen Crest Holdings Ltd for 15 million USD, targeting the Indonesian crypto market.
According to a news report from TechFlow on June 3, OSL Group (00863) announced that its wholly-owned subsidiary OSL Midaspay Limited signed a share acquisition agreement with Lau Shu Ming on May 30 to acquire 90% of the issued shares of Evergreen Crest Holdings Ltd for 15 million USD (approximately 117 million HKD). The transaction will be paid through the issuance of consideration shares, and upon completion, the target company will become an indirect subsidiary of OSL Group.
The target company is currently operating a digital asset exchange through its subsidiary and holds a futures broker license and a cryptocurrency dealer license in Indonesia. This acquisition will provide a strategic channel for the OSL Group to enter the Indonesian digital asset market.