Strategy's European Launch of Perpetual Preferred Stock Faces Challenges

Strategy introduced its first non-U.S. perpetual preferred stock, STRE, in Europe last November. According to PANews, the stock was issued at a discounted price of 80 euros, despite having a face value of 100 euros and an annual dividend yield of 10%. The launch raised approximately $715 million, but the market response has been tepid. Analysts attribute the lackluster reception to several factors, including the limited listing channel on Luxembourg's Euro MTF, which restricts trading by mainstream brokers and retail platforms. Additionally, there is a lack of transparent pricing and market data for STRE. Strategy has not yet announced any future plans, leaving the market to speculate whether the company will continue to focus on the European market or maintain its presence in the U.S. market.