OSL Group (HKG:0863) completed the placing of 104.7 million existing shares at HK$14.90 each and a top-up subscription of the same number of new shares, raising net proceeds of about HK$1.50 billion, according to a Wednesday Hong Kong bourse filing.

The shares were placed to not fewer than six independent investors, none of whom became a substantial shareholder, the company said.

Net proceeds will be used for strategic acquisitions, global business expansion, including payment services and stablecoin initiatives, product and technology infrastructure development, and general working capital.