Strategy is preparing for its first IPO in Europe.
Date: 2025-11-04 Author: Henry Casey Categories: BUSINESS
Strategy co-founder and chairman Michael Saylor stated that the primary goal of entering the European market is to strengthen the company's financial stability, develop its digital lending business, and maintain investor and creditor confidence.
The company intends to issue Series A Perpetual Stream perpetual preferred shares under the ticker STRE. The par value of each share will be €100 (approximately $115), with an annual yield of 10% of the par value. Dividend payments will be made quarterly, beginning December 31, 2025.
If the payment is delayed, the interest rate will increase to 18% per annum. These shares do not carry voting rights, but they have priority over ordinary shares in the event of company liquidation, making them a more secure instrument for investors.
Strategy has entrusted investment giants Barclays and Morgan Stanley with organizing its public offering. The company expects to raise approximately €350 million (approximately $378 million) through the IPO, which will be a significant step toward strengthening its capital base and expanding its presence in Europe.
Strategy currently holds 641,205 BTC. According to Bitbo's Bitcoin Treasuries platform, the combined value of these assets is estimated at $68.39 billion. This volume of cryptocurrency reserves makes the company one of the largest corporate holders of Bitcoin in the world.
Despite its impressive performance, S&P Global Ratings recently assigned Strategy a "B-" credit rating. The agency's analysts attributed this to the company's high exposure to the volatile asset Bitcoin, as well as concerns about potential shareholder dilution and increased debt. The agency also noted low liquidity and potential risks associated with the payout of new preferred shares.
Thus, Strategy's upcoming IPO will be a significant test for the company, which is balancing its desire to raise capital with the need to prove the sustainability of its business model amid the highly volatile cryptocurrency market. A successful IPO could not only strengthen Strategy's financial position but also serve as a signal of maturity for the entire crypto-focused corporate investment sector in Europe.
