Metaplanet don issue preferred shares wey dey pay dividend to give institutional exposure to Bitcoin

Metaplanet, wey be Japan biggest corporate wey get Bitcoin wit 30,823 BTC (≈US$2.7–2.75bn), don get shareholder ok for five capital restructure proposals wey go allow dem issue dividend-paying preferred shares wey target institutional investors. Di company double di authorized shares for two preferred classes (Class A and Class B to 555 million each) and dem reclassify capital reserves to capital surplus to fund preferred dividends and possible buybacks while dem go continue to buy BTC without diluting common equity. Class A go pay monthly floating dividends under Metaplanet Adjustable Rate Security (MARS) wey go raise payment when share price fall below par to help stabilise value. Class B go pay quarterly fixed dividends with stated yield of 4.9%, e get 10-year issuer call at 130% of face value, and e give investors put right if no IPO happen within one year. Approval also allow issuance of Class B shares to overseas institutional investors, creating income-style indirect route to Bitcoin exposure via preferred equity instead of spot BTC or common stock. Tokyo-listed stock jump about 4.16% after di vote and di company don start U.S. ADR trading via Deutsche Bank. For traders: dis one create new institutional instrument tied to big corporate BTC reserve, fit broaden institutional demand for corporate-linked Bitcoin exposure, and show Metaplanet still fit buy BTC while offering predictable yield; impact on BTC price likely indirect but fit give small support to institutional demand.