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. Summary 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. Metaplanet held 44,000 BTC as of September 30 and continues to prioritize its Bitcoin treasury strategy. According to its November 2 filing, Metaplanet acquired 96,447,400 common shares between October 14 and October 31. The purchases represented roughly 7.1% of its previously outstanding shares and were completed through Tokyo Stock Exchange transactions. Meanwhile, Metaplanet shares closed at ¥250 on November 2, gaining 2.46%, according to Google Finance. Metaplanet shares price chart, source: Google Finance The company is buying its own stock while c...