Understanding the Market | OSL GROUP rises over 3% plans to acquire all shares of cryptocurrency infrastructure provider Banxa
OSL GROUP's stock price rose by 3.28%, closing at HKD 14.48, with a trading volume of HKD 16.4277 million. The company plans to acquire all shares of cryptocurrency infrastructure provider Banxa, with a maximum transaction cost expected to be CAD 85.2 million. Banxa is registered in Canada and primarily engages in seamless integration of cryptocurrencies, aiming to facilitate the buying and selling of digital assets, aligning with OSL GROUP's global expansion strategy
According to Zhitong Finance APP, OSL GROUP (00863) rose over 3%, up 3.28% as of the time of writing, priced at HKD 14.48, with a trading volume of HKD 16.4277 million.
In terms of news, OSL GROUP announced that on June 27, 2025 (after trading hours) (Hong Kong time), the company, buyer OSL BNXA Acquisition Inc., and Banxa entered into an arrangement agreement regarding the proposed acquisition of all Banxa shares (including Banxa shares to be issued due to the conversion of Banxa convertible debentures that have not yet matured prior to the effective time) by the company (through its indirect wholly-owned subsidiary, the buyer) in accordance with the provisions of the BCBCA. The maximum consideration for the proposed acquisition is approximately CAD 85.2 million, including the consideration payable to Banxa's option and warrant holders at the effective time.
Banxa, registered in British Columbia, Canada, and listed on the Toronto Stock Exchange's Venture Exchange, is a leading infrastructure provider that enables businesses to seamlessly integrate cryptocurrency into their existing platforms and unlock new opportunities in the rapidly evolving crypto economy, facilitating the buying and selling of digital assets. Its main operations and offices are located in Europe, North America, and Australia. Specifically, Banxa holds multiple licenses and registrations in various regions around the world. The proposed acquisition aligns with the group's business strategy for global expansion in the digital asset industry (the industry in which the group currently operates)
