Metaplanet Clears Issuance Of Dividend-paying Shares For Overseas...

Japan’s largest corporate Bitcoin holder approved preferred shares with dividends, signaling a shift toward income-focused institutional capital.

Metaplanet approved an overhaul of its capital structure on Monday, allowing Japan’s largest corporate Bitcoin holder to raise funds through dividend-paying preferred shares aimed at institutional investors.

Investors approved five proposals that collectively expand Metaplanet’s ability to issue preferred shares, introduce new dividend mechanics and open participation to overseas institutional capital, said Dylan LeClair, the company’s Bitcoin strategy director.

The approved measures include reclassifying capital reserves to allow for preferred share dividends and potential buybacks, doubling the authorized number of Class A and Class B preferred shares and amending dividend structures to introduce floating and periodic payouts.

In addition, Metaplanet cleared the issuance of Class B preferred shares to international institutional investors.

Metaplanet held about 30,823 Bitcoin (BTC) at press time, worth $2.75 billion, according to Bitcoin Treasuries. This makes the company the biggest corporate Bitcoin holder in Asia, and the fourth-biggest in the world.

The approved proposals mark a shift away from a pure growth-through-dilution approach to a more traditional markets approach, where income-producing securities coexist with a Bitcoin-focused balance sheet strategy.

Rather than offering direct Bitcoin yield, Metaplanet is using preferred equity to package exposure to its corporate Bitcoin holdings in a format familiar to institutions.

One of the most notable changes is the amendment for the company's Class A preferred shares to adopt a monthly, floating-rate dividend structure known as the “Metaplanet Adjustable Rate Security.”

This design allows investors to receive regular income, which aligns with the institutional need for predictable cash flows.

Source: CoinTelegraph