TechFlow news — BC Technology Group (HKEX stock code 863) announced it will place 31,952,500 shares to GIC (Government of Singapore Investment Corporation), with Macquarie Capital acting as placement agent. The placement price is HK$17 per share. Upon completion, GIC will hold 7.62% of BC Technology Group, becoming its largest institutional investor. Net proceeds of approximately HK$535 million will be used for information technology-related expenses, working capital, and market expansion reserves.
GIC is Singapore's sovereign wealth fund, established in 1981 to manage the country's foreign exchange reserves. GIC invests across more than 40 countries, with assets spanning equities, fixed income, foreign exchange, commodities, money markets, alternative investments, real estate, and private equity.
BC Technology Group is a leading digital asset company listed in Hong Kong, operating the OSL Digital Asset Platform. It holds the exclusive Virtual Asset License Types 1 (Securities Trading) and 7 (Automated Trading Services) issued by the Securities and Futures Commission of Hong Kong. The company has recently demonstrated strong performance in the regulated digital asset sector.
