Tokyo-listed Bitcoin (BTC) treasury company Metaplanet Inc. bought back 73,981,400 ordinary shares at ¥261 each on Wednesday, Oct. 14, completing 76.32% of the transaction's listed maximum, Japan Exchange Group data show.
The exchange's table listed a maximum of 96,934,800 shares for the off-auction transaction. The completed purchase amounted to about ¥19.31 billion, while the full maximum at that price would have cost about ¥25.30 billion.
The gap between the listed maximum and the completed trade was 22,953,400 shares. Company disclosures put the purchased shares at 5.42% of Metaplanet's issued ordinary shares.
Metaplanet's completed purchases represented 5.42% of its issued ordinary shares, according to company disclosures. Its disclosures showed capacity for further purchases of up to 9.2% of the issued-share base.
Metaplanet said the buyback was intended to improve capital efficiency and Bitcoin holdings per share, while easing the convertible bond issue's short-term effect on share supply and demand. The company disclosed remaining capacity for purchases of up to 9.2% of its issued-share base.
