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OKG Technology Holdings Limited (1499.HK)

HKSE - HKSE Delayed Price. Currency in HKD
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0.570+0.010 (+1.79%)
At close: 3:44PM HKT
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Neutralpattern detected
Previous Close0.560
Bid0.560 x 0
Ask0.570 x 0
Day's Range0.560 - 0.580
52 Week Range0.112 - 1.140
Avg. Volume31,533,945
Market Cap3.061B
Beta (5Y Monthly)0.69
PE Ratio (TTM)N/A
Earnings DateJun 28, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Bloomberg

      Chinese Crypto Mogul Emerges After Probe That Forced OKEx Halt

      (Bloomberg) -- The founder of one of the world’s largest Bitcoin exchanges broke a month-long silence to proclaim his innocence Friday, making his first comments since a Chinese police probe forced OKEx to briefly suspend withdrawals of all cryptocurrency assets.Xu Mingxing posted on a private social media feed he had been cooperating with an investigation into an equity merger his blockchain company OK Group completed years ago. The founder, who also goes by Star, said the investee was the target of a “complicated” legal case, without elaborating. Shares in listed affiliate OKG Technology Holdings Ltd. soared as much as 23% Friday in Hong Kong.The well-known entrepreneur sent his message hours after OKEx announced it’s going to permit withdrawals of digital assets on or before Nov. 27. The Malta-based company halted withdrawals on Oct. 16 after an unidentified staffer with access to users’ accounts went incommunicado while cooperating with a police investigation, the exchange said at the time. OKG, in which Xu owns a controlling stake, said days later he was under probe by Chinese police.“The authorities have clarified the matter and proved me innocent,” Xu wrote Friday on his WeChat feed, which is visible only to select users. “In coming days, I’ll call on everyone who supported OK Group to express my gratitude.”Read more: Chinese Police Probe Halts Withdrawals at Crypto Giant OKExIt’s unclear what deal Xu was referring to. OKG, which secured a backdoor listing in Hong Kong last year, has said the group wasn’t subject to any government probe. A representative with the OK Group confirmed Xu’s WeChat post but declined to comment on the investigation or the merger. An OKEx spokeswoman declined to comment on Xu, saying OKEx is a separate entity from the OK Group.“The issue that triggered OKEx to deploy the extraordinary security measure has since been resolved,” OKEx said in a Thursday statement. “All user funds can be withdrawn without restriction after withdrawals are reopened.”Read more: Frozen OKEx Crypto Traders Can Cash Out, But Would Pay a PriceXu launched OKEx’s predecessor, OKCoin, in 2013 but later moved away from the exchange business, instead focusing on blockchain venture OK Group. Originally from China, the startup moved its base to Malta after Beijing started to crack down on crypto trading. In the days after OKEx suspended withdrawals, it also halted over-the-counter fiat-to-crypto trading on its platform -- a vehicle that has been under Chinese regulatory scrutiny.OKEx saw $4 billion of crypto spot trading on its platform over the past 24 hours, ranking fifth among the world’s largest digital asset exchanges, according to CoinMarketCap. Though volume data in crypto are often seen as suspect, OKEx is generally regarded as one of the most active crypto exchanges.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Frozen OKEx Crypto Traders Can Cash Out, But Would Pay a Price

      Frozen OKEx Crypto Traders Can Cash Out, But Would Pay a Price

      (Bloomberg) -- Institutional users of cryptocurrency exchange giant OKEx can now get their holdings out, though it will cost them to do so.The exchange, which made withdrawals unavailable last week after Chinese police launched a probe linked to the firm, began letting users within OKEx trade with each other on Wednesday.Read more: Chinese Police Probe Halts Withdrawals at Crypto Giant OKExHours later, blockchain developer Zulu Republic -- along with liquidity provider Alameda Research and crypto trading community Whalepool -- created a way for institutional investors to sell their OKEx deposits for a token representing Bitcoin or Tether on the Ethereum blockchain. A user gets one token for every OKEx Bitcoin deposited into the venture’s OKEx account. The token currently trades for about 93 cents on the dollar on the Uniswap exchange.“My guess is if they were expecting withdrawals to resume tomorrow, they’d tell us,” said Sam Bankman-Fried, Alameda’s chief executive officer, adding that he believes no funds have been moved or stolen. “There’s not been a lot of guidance on what to expect. I think sentiment is weeks to months when withdrawals will open up.”Within the first hour of the token’s availability, five institutional investors reached out to the venture, which charges a 1% fee on the swap plus a fee for a regulatory check, Zulu CEO Daniele Sestagalli said in an interview. Users wishing to swap back to their OKEx accounts -- if the exchange unfreezes withdrawals, for instance -- have to pay a 1% fee as well. The minimum order amount is 100 Bitcoin, he said. Bitcoin is currently trading around $13,000.Traders need to visit Isaidno.ooo to join the waiting list for withdrawal approval.OKEx halted withdrawals last week after Chinese police launched an investigation linked to it.OKG Technology Holdings Ltd. -- whose controlling shareholder, Xu Mingxing, is also the founder of OKEx -- said in a Hong Kong stock exchange filing Oct. 18 it has been informed Xu is under investigation by public security authorities in China. OKG said it hasn’t reached Xu to confirm he is being investigated and the group wasn’t subject to any government probe in China to the best of the board’s knowledge.In an earlier statement, OKEx said an unidentified staffer responsible for users’ private keys -- accounts where coins are stored -- has been “out of touch” while cooperating with a police investigation, the Malta-based exchange said in an Oct. 16 release. The exchange emphasized that everyone’s deposits are safe.OKEx didn’t immediately respond to a request for comment.In a tweet, Bankman-Fried cautioned about the venture: “Use at your own risk.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.