Advising OSL on its acquisition of a majority interest in Koinsayang, an Indonesian digital assets exchange

Our Hong Kong-based corporate team advised OSL Group Limited (“OSL”) on its acquisition of 90% of the total issued shares in EvergreenCrest Holdings Ltd. (“EvergreenCrest”) at the consideration of approximately US$15 million (equivalent to approximately HK$117 million), which has been satisfied through the allotment and issue of 9,266,168 consideration shares by OSL. The subsidiaries of EvergreenCrest own and operate Koinsayang, a licensed digital assets exchange in Indonesia. The transaction was signed on 30 May 2025, and closing took place on 22 September 2025.

Listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 863), OSL is one of the few public companies in Hong Kong which is fully dedicated to digital assets. OSL operates the first SFC-licensed digital assets platform in Hong Kong and has rapidly advanced its global operation and licence footprint. It offers a comprehensive suite of digital asset-related services including brokerage, custody, exchange, and SaaS. With established operations in Hong Kong, Japan, Singapore and Europe, OSL’s acquisition of EvergreenCrest marks its strategic expansion into the Southeast Asian digital assets market and represents a significant contribution to the implementation of its broader global growth strategy.

The transaction was co-led by Dickson Ng, Partner and Head of Corporate, Hong Kong, and Senior Consultant Stephen Mok. They were supported by Senior Associate Alvin So, and Associate Katrina Shum of the corporate team in Hong Kong.

Dickson and Stephen commented:

“We are pleased to have supported OSL in this key transaction, which exemplifies our client’s strategic vision for growth and underscores its commitment to expanding into the dynamic Southeast Asian market. This transaction not only highlights our firm's extensive experience in advising publicly listed companies on cross-border acquisitions, but also demonstrates our ability to support clients operating within the rapidly evolving digital assets sector and Web 3.0 ecosystem. It has been a genuine privilege to collaborate with the outstanding team at OSL, and we look forward to supporting OSL as it continues to pursue ambitious growth and expansion across new markets.”