Deals
Fidelity Acquires Stake in Hong Kong Crypto Firm BC Group
Lights illuminate as application-specific integrated circuit (ASIC) devices and power units operate inside a rack at the BitRiver Rus LLC cryptocurrency mining farm in Bratsk, Russia
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Fidelity International has acquired a HK$110.5 million ($14.2 million) stake in the operator of OSL, one of Asia’s biggest digital-asset platforms for professional investors.
The investment manager acquired 17 million shares of BC Technology Group Ltd. for an average price per share of HK$6.50 as of Feb. 12, according to a Hong Kong stock exchange filing. The acquisition makes Fidelity a substantial shareholder with a 5.6% position.