OSL Group's stock price plummeted 10.68% in early trading on Friday, following the company's announcement of a significant share placement and subscription agreement. The Hong Kong-based digital asset platform revealed plans to raise approximately HK$2,355.03 million (about $300 million) through equity financing.

According to the company's statement, the placing shares are priced at HK$14.90 per share. This move, while providing substantial capital for the company's growth initiatives, has led to concerns about share dilution among existing stockholders, triggering the sharp decline in stock price.

OSL Group stated that the proceeds from this financing round will support various global initiatives, including stablecoin development, licensing, and digital payment projects. While these plans signal the company's ambitions for expansion and innovation in the digital asset space, the immediate market reaction reflects investors' apprehension about the potential dilution of their shareholdings.