Metaplanet has delayed the planned listing of its MARS and MERCURY preferred shares in Japan, extending earlier indications that the launch was taking longer than expected. CEO Simon Gerovich said the proposed deal would have been Japan’s seventh listed preferred stock and the country’s first perpetual preferred share, but cited an underdeveloped market, regulatory requirements that dividends be supported by sustainable cash flow, and the company’s plan for monthly dividends as key obstacles. The update indicates the offering remains on hold while Metaplanet continues evaluating the structure and feasibility of the issuance.