Japan's Metaplanet Conducts First Share Buyback Worth $120 Million
JOON HYOUNG LEE
Summary
- Metaplanet said it had carried out its first share buyback.
- Metaplanet said it repurchased about 73.98 million shares, equal to about 5.42% of its total common shares, for about $120 million.
- The company said the share buyback was intended to improve capital efficiency and increase Bitcoin holdings per share.
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Metaplanet, dubbed Japan's version of Strategy, has carried out its first share buyback.
The company said on Oct. 14 that it repurchased about 73.98 million common shares, equal to about 5.42% of its total common shares outstanding. The buyback was worth about $120 million.
The repurchase is intended to improve capital efficiency and increase Bitcoin holdings per share. Bitcoin Treasuries wrote on X that Metaplanet still has capacity to buy back an additional 9.2% of its outstanding shares even after this transaction.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul