Bitcoin-focused Metaplanet slips 8% as it announces stock split

Metaplanet’s shares fell by more than 8% after the Japanese company announced a distribution of actions of 10 for 1 to improve liquidity.

Japanese The shares of the investment company Metaplanet fell 8.41% on the over the counter markets following the advertisement by the company of a split. The decline occurred after the board of directors approved the decision to increase the number of shares and reduce the price per unit.

In a February 18 noticeMetaplanet said that the split of shares aims to improve liquidity and extend the investor base.

“”[…] We have decided to carry out a share division to reduce the price per unit of negotiation, thus improving liquidity, expanding our base of investors and strengthening our link with a wider range of shareholders. »»

Metaplanet

The decision comes after a share of inverted actions in August 2024, which consolidated 10 shares in one. Since then, the share price has increased, which allows investors to buy, explains Metaplanet. Like crypto.News reported Earlier, Metaplanet became the hottest stock in Japan, increasing by 3,600% after pivoting Bitcoin. With 1,762 bitcoin (BTC) And a daring target of 21,000 BTC is the best BTC game in Asia.

To reduce the entrance barrier, the company now wishes to divide each share in 10, from April 1. The shareholders recorded on March 31 will receive additional actions. This decision will increase the total number of shares issued from approximately 39 million to almost 392 million, according to the opinion.

The exercise price of shares acquisition rights will also be adjusted due to the split. For example, the price of the 13th to the 17th series of actions acquisition rights will be reduced from 5,555 yen to 556 yen. Metaplanet noted that the shares division will not change its declared capital.