BC Group offered 43.1 million shares at HK$6.50 per share in its offering Friday, representing a discount of nearly 17% from its trading price of HK$7.82 from its share price that day, it said.
BC Group's digital asset business, called OSL, includes a trading platform and vault for digital assets such as Bitcoin, Ethereum and security tokens. OSL was the first company to apply for a digital asset trading license from Hong Kong's Securities & Futures Commission in November, according to BC Group.
"Digital asset market infrastructure is going through a rapid changing of the guard," BC Group CEO Hugh Madden said in a statement Wednesday. "Licensing frameworks in every major jurisdiction are rewarding only the strongest and most professional operators, and these firms will continue to capture market share from unlicensed players."
The shares were offered on Jan. 24, but the offering was announced Wednesday due to markets being closed for Lunar New Year.
In investor documents, OSL predicts that traditional securities will eventually convert to digital assets. Its trading platform is built for both institutions and professional investors, it said.
The region's markets have seen volatility lately. Two of China's main stock exchanges, in Shanghai and Shenzhen, are scheduled to be closed until Feb. 3 in response to the country's deadly coronavirus outbreak.
On Jan. 28, Chinese regulators urged securities firms to help investors respond rationally to the financial impact of the virus, which has rattled global markets as trading in China remains halted. Central bankers promised to provide "sufficient liquidity" when activity resumes.
Counsel information for the offering was not immediately available. A spokesperson for BC Group was not immediately available to comment.
--Additional reporting by Tom Zanki. Editing by Alanna Weissman.
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