Metaplanet Plans $160 Million Share Buyback Equal to 7.1% of Stock

Metaplanet plans to spend about $160 million to repurchase roughly 96.93 million shares, a transaction that would represent approximately 7.1% of its outstanding stock. The Japanese Bitcoin (BTC) treasury company plans to execute the purchase Oct. 14 through the Tokyo Stock Exchange’s ToSTNeT-3 system. The planned repurchase has not yet been completed, and the actual transaction results are expected to be released the same day. Metaplanet also approved a maximum share-repurchase authorization of about $380 million for the next year.