BTC AB Registers Preferred Shares to Expand Bitcoin Treasury

$BTC AB (B Treasury Capital), a Swedish public company that operates as a corporate Bitcoin treasury, announced that the rights issue has now been officially registered with the Swedish Companies Registration Office and that temporary paid subscribed shares (BTA) will be converted into permanent Preference A shares.

Euroclear Sweden will distribute the new shares to investors on July 20, with trading expected to begin that same day on Sweden’s Spotlight Stock Market. The new shares will trade under the ticker symbol $BTC PREF A.

In early June, $BTC AB announced the rights issue targeting approximately SEK 23 million (roughly $2.4 million) in funding. The company announced the results earlier this month, stating that the offering brought in about SEK 12.2 million gross or around SEK 11.9 million after costs, and a subscription rate of over 50%.

Like Strategy and Metaplanet, $BTC AB is making Bitcoin its main reserve asset. However, instead of constantly issuing new common stock and diluting existing shareholders, the company is using preferred equity to raise capital.

What are Preference A Shares?

$BTC PREF is a preferred share with characteristics that differ from those of $BTC AB’s ordinary shares.

The company says the shares pay an annual dividend of SEK 12 per share, distributed monthly. Preferred shareholders get priority over common shareholders for dividends, and the entire offering was designed to fund $BTC AB’s Bitcoin treasury plan.

These shares cost 120 SEK each and pay a 10% annual dividend, with the company’s Bitcoin reserves backing the entire payout.

$BTC AB currently holds approximately 172 Bitcoin, valued at roughly $11 million.

Pareto Securities as a Liquidity Provider

On top of this announcement, $BTC AB has also appointed Pareto Securities as the liquidity provider for the new preferred shares to help improve trading liquidity once $BTC PREF begins trading on July 20.

On that day, Pareto Securities will keep placing buy and sell orders for $BTC PREF A to keep the spread tight and liquidity healthy.

Pareto Securities is a full‑service investment bank that holds the leading position in the Nordic markets.

Related: Strategy CEO Ensures Long-Term Commitment to Bitcoin in Talk