Metaplanet’s shares fell over 8% after the Japanese firm announced 10 -for -1 stock split to improve liquidity.
The shares of Japanese investment firm Metaplanet fell 8.41% on the over-the-counter markets after the announcement of a stock split firm. The drop came after the board approved the step to increase the number of shares and reduce the price per unit.
In February 1 InformationMetaplanet said that the stock split aims to improve liquidity and expand the investor base.
,[…] We have decided to operate a stock split per trading unit to reduce the price, which has improved liquidity, our investor base has been expanded, and strengthened our connection with a broader category of shareholders Has gone. ,
Metaplanet
The decision comes after a reverse stock division in August 2024, which consolidated 10 shares into one. Since then, the share price has increased, making investors expensive to buy, Metaplanet says. As Crypto.news had previously reported, Metaplanet has become the hottest stock in Japan, growing 3,600% after pivitting for bitcoin. With 1,762 bitcoin (BTC) and a bold 21,000 BTC target, it is Asia’s top BTC play.
To reduce the entry barrier, the firm now wants to divide each stock into 10, effective 1. The shareholders recorded by 31 March will receive additional shares. The total number of shares issued by this move will increase from about 39 million to about 392 million.
Exercise price for stock acquisition rights will also be adjusted due to division. For example, the price of the 13th to 17th series of stock acquisition rights will be reduced to 5,555 yen. Metaplanet said that the stock split would not change its declared capital.
