Metaplanet has announced plans to structure financial products backed by its bitcoin holdings following its ¥2.1 billion acquisition of シーボ証券. The company is reportedly expected to complete the acquisition of all outstanding shares and make シーボ証券 a wholly owned subsidiary as early as August.
Metaplanet is strengthening its funding base through the acquisition of a securities firm as part of its management strategy centered on its crypto-asset treasury. The acquisition target, シーボ証券, is intended to broaden access to the financial markets under a policy of structuring new financial products using the crypto assets held by Metaplanet.
When the CEO and Representative Executive Officer of Metaplanet and the representative of シーボ証券 met in April, they confirmed that their management issues and strategies were aligned, moving the deal forward. On 12 June, Metaplanet announced the acquisition price of ¥2.1 billion, making clear that procedures to bring シーボ証券 under its umbrella were expected to proceed.
It has been reported that the acquisition discussions were influenced by an investment-research connection, as the president of シーボ証券 had previously worked with the president, Simon, at Goldman Sachs Securities.
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