OSL Group plans to acquire 90% of Evergreen Crest shares for US$15 million to enter Indonesian crypto market

Mars Finance News, on June 3, OSL Group (00863) announced that its wholly-owned subsidiary OSL Midaspay Limited signed a share purchase agreement with Lau Shu Ming on May 30, acquiring 90% of the total issued shares of Evergreen Crest Holdings Ltd for $15 million (approximately HK$117 million). 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 subsidiaries and holds licenses for an Indonesian futures broker and cryptocurrency trader. This acquisition will provide a strategic channel for OSL Group to enter the Indonesian digital asset market.