According to CoinDesk, Metaplanet, Japan’s largest corporate Bitcoin holder, postponed its preferred share IPO listing on May 14 due to structural challenges in the Japanese market. CEO Simon Gerovich cited three main factors: the underdeveloped nature of Japan’s preferred stock market, regulatory requirements mandating that preferred dividends be supported by sustainable cash flow, and the company’s plan to pay monthly dividends—significantly higher than Japan’s standard practice of annual or semi-annual payments. The planned instrument would mark Japan’s seventh listed preferred share and its first perpetual preferred share.
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