OSL GROUP (00863) has announced the successful completion of its placement transaction on February 2, 2026, fulfilling all terms and conditions outlined in the placement and subscription agreement.

The sole placing agent successfully placed an aggregate of 105 million placement shares to no fewer than six placees on a best-efforts basis, at a price of HK$14.90 per share.

To the best of the directors' knowledge, information, and belief, the placees and their ultimate beneficial owners are all independent third parties.

None of the placees became a major shareholder of the company immediately following the completion of the placement.

As all conditions for the completion of the subscription were satisfied, the company allotted and issued 105 million subscription shares to the seller on February 4, 2026, at a price of HK$14.90 per subscription share.

After deducting all related fees, costs, and expenses incidental to the placement and subscription, the net proceeds from the subscription are approximately HK$1.55 billion.

The company intends to use the net proceeds for strategic acquisition initiatives; global business development efforts, including payment services and stablecoin operations; the development of product and technology infrastructure; and for general working capital and other corporate purposes to support the group's worldwide business growth.

Further details regarding the proposed use of the net proceeds are available in the announcement.