Metaplanet buys back 96.45M shares for ¥25.27B as stock rises 2.46%

Metaplanet has repurchased 96.45 million shares worth ¥25.27 billion ($160 million) as the Japanese Bitcoin treasury company adjusts its capital allocation strategy amid pressure on its stock valuation. Metaplanet repurchased 96.45 million shares for ¥25.27 billion between October 14 and 31, representing about 7.1% of its issued shares. The company has used approximately 42.1% of its ¥60 billion share buyback authorization. Metaplanet stock closed at ¥250 on November 2, gaining 2.46% during the trading session. CEO Simon Gerovich said future capital allocation would consider Bitcoin holdings per share, stock prices and mNAV.

Source: crypto.news