This week, Metaplanet's share price surged 36% in 5 trading days, and the company announced an acquisition that will make a U.S. Nasdaq-listed company a consolidated subsidiary. It also disclosed plans to develop a U.S. dollar-denominated fundraising route and launch a corporate bond issuance program.
Metaplanet's share price rose from a closing price of ¥219 on 17 August to ¥301 as of 11:25 a.m. on 21 August, representing an increase of approximately 36.82% over the previous 5 trading days. During the period, the price moved up from around ¥220 to around ¥250 on or around 20 August, before surging into the ¥300 range on 21 August.
The company announced that it would make a U.S. Nasdaq-listed company a consolidated subsidiary as a strategic investment. Following completion of the acquisition, the target company is expected to change its corporate name to Superplanet, Inc., and Metaplanet expressed its intention to develop direct U.S. dollar-denominated fundraising as a new funding route.
Metaplanet launched BitBonds, an ongoing corporate bond issuance program, and issued approximately ¥200 million in total across 4 series of unsecured straight corporate bonds, including the initial issuance and the 21st through 24th series. The bonds have maturities of approximately 3 years and annual interest rates of 4.0–4.3%. Administration is handled by its subsidiary Metaplanet Securities, formerly Siiibo Securities, which joined the group in July and subsequently changed its corporate name.
Bond sales will combine the group's securities network with the corporate finance capabilities of a listed company. Through its online platform, Metaplanet Securities has already supported more than 40 issuers.