The post Metaplanet’s 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, 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.
Metaplanet’s shares fell 8.41% on over-the-counter markets following the the firm’s announcement of a stock split.
