The post Metaplanet Announces 10-to-1 Stock Split: What It Means for Investors appeared first on Coinpedia Fintech News
In a latest development, Metaplanet has announced a 10-to-1 stock split which is set to take effect on April 1. The Tokyo-based firm first started buying Bitcoin in April 2024.
Metaplanet Sees 3,900% Surge In Its Stock
Metaplanet, based in Tokyo, began buying Bitcoin in April 2024 and has since acquired 2,031 bitcoins, valued at nearly $200 million. These Bitcoin purchases were the main reason Metaplanet became the best-performing Japanese stock in the last year, with a 3,900% increase in its value. With 1,762 Bitcoins and an ambitious target of 21,000 BTC, it’s Asia’s leading Bitcoin play.
The decision follows a reverse stock split in August 2024, which combined 10 shares into one. Since then, the share price has risen sharply, creating a “substantial financial burden for investors,” according to Metaplanet. Notably, this move will increase the total number of issued shares from about 39 million to nearly 392 million, as per the notice.
“To address this, we have decided to conduct a stock split to lower the price per trading unit, thereby improving liquidity, expanding our investor base, and strengthening our connection with a broader range of shareholders,” the company noted.
The exercise prices for certain stock acquisition rights will also be adjusted accordingly. The company intends to finalize the total number of authorized shares following its Annual General Meeting on March 24, 2025. Metaplanet’s shares fell 8.41% on over-the-counter markets following the the firm’s announcement of a stock split.
Metaplanet’s Bold Plans Ahead
Metaplanet revealed on Monday that it has added 269.43 BTC to its stash, worth roughly $26.4 million. This brings the company’s total Bitcoin holdings to around 2,031 BTC, valued at about $196 million at today’s prices. This new acquisition follows Metaplanet’s successful ¥4 billion bond issuance and approval of 21 million shares to buy more Bitcoin. The company is moving ahead with bold plans as it aims to hit 21,000 BTC by 2026.