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Bitcoin Treasuries posted on X that The Smarter Web Company has launched the inaugural offering of its Bitcoin-backed preferred shares MORE to institutional and retail investors, with an expected listing on the Main Market of the London Stock Exchange on October 14. The initial offering price is £90, approximately $119, with an annual dividend yield of 12%, paid weekly.
Odaily News: UK-based Bitcoin treasury company The Smarter Web Company has received shareholder approval to launch MORE, the UK's first Bitcoin-backed preferred stock. In addition, the company expects to raise $20 million to $33 million through an IPO to purchase more Bitcoin and fund cash-flow-generating operating businesses. (Bitcoin Treasuries)
Odaily reports: The company plans to issue perpetual preferred shares under the ticker MORE, with a fundraising target of £15 million to £25 million and a minimum raise of £10 million. Listing admission requires support from three market makers. Holders will receive cumulative weekly dividends and liquidation preference but will not have voting rights, and the company may redeem the shares. As of mid-2026, SWC held 2,878 Bitcoins; following High Court approval of its capital reduction, the company has £132.5 million in distributable reserves available for payment.