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Singapore sovereign wealth fund invests $70 million in crypto exchange OSL’s parent group

Singapore’s GIC invests $70 million in crypto exchange OSL’s parent group

GIC, the sovereign wealth fund managing Singapore’s foreign reserve, has invested HK$543.19 million (or $70 million) in Hong Kong-listed BC Group, the parent company of regulated crypto exchange OSL. The investment was made through a new stock top-up placement where BC Group issued 31,952,500 shares at a price of HK$17 per share to GIC, according to BC Group’s public disclosure at the Hong Kong Stock Exchange on Friday.