Crypto
Satsuma Technology Ditches All Bitcoin Holdings, Prepares for Delisting
UK-listed Satsuma Technology is delisting from the London market after disposing of all its Bitcoin holdings.
The company held 669,486.7 BTC and sold them between July 24-31 at a net volume-weighted average sale price of £47,667 per coin, securing a total of £31,912,395.
Following the sale, Satsuma's cash holdings stood at £35,324,953. The company will return approximately £30.72 million to shareholders as part of its capital return structure.
The refund amount was calculated after excluding expected transaction and completion costs of £2.6 million and future working capital of £2.0 million.