Bitcoin News Update: Metaplanet Initiates Share Repurchase to Narrow Disparity Between Stock Price and Bitcoin Holdings
- Metaplanet Inc. will hold a shareholder meeting on Dec 22, 2025, to address its mNAV ratio drop below 1.0x. - The company authorized a ¥75B share buyback (13.13% of shares) funded by a $500M loan secured against 30,823 BTC ($3.5B). - New capital policies prioritize buybacks when shares trade below intrinsic value and issue perpetual preferred shares for BTC purchases. - Shares rose 2.3% after the announcement, following a 74% decline from June highs, as the firm aims to accumulate 210,000 BTC by 2027.
Metaplanet Inc. (TYO: 3350, OTCQX: MTPLF) has revealed its intention to convene a special shareholders' meeting on December 22, 2025. This move is part of a larger effort to tackle the recent drop in its market-to-net-asset-value (mNAV) ratio and to reinforce its standing as the largest publicly traded
This decision follows a series of bold capital management actions designed to narrow the gap between Metaplanet’s share price and the value of its Bitcoin assets. The company has approved a share buyback program worth ¥75 billion (approximately $500 million), which could account for up to 13.13% of its total shares outstanding, to be carried out until October 28, 2026, according to
The board has also adopted a new Capital Allocation Policy to guide future funding and shareholder returns. Notable elements include suspending common stock issuance when mNAV is under 1.0x and giving priority to buybacks if shares are trading below their intrinsic value. Furthermore, Metaplanet plans to issue perpetual preferred shares to finance additional Bitcoin acquisitions, with the goal of boosting BTC Yield—defined as the rate at which Bitcoin per diluted share increases—while also managing refinancing risks. These steps come after TYO:3350 shares dropped 74% in yen from their June 16 peak.
Following these announcements, the company’s stock price climbed 2.3% to 499 yen on the day the buyback was made public, as mentioned in
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