Smarter Web unveils UK’s first Bitcoin-backed preferred shares
7 Investments Smarter Web plans to raise £15–25M via UK’s first Bitcoin-backed preferred shares, offering weekly dividends but no voting rights, pending regulatory and shareholder approval.
The Smarter Web Company, a Bristol-based web design firm, has announced plans to launch the UK’s first pounds-sterling-denominated preferred stock backed by a Bitcoin treasury. The company aims to raise between £15 million and £25 million through an IPO of a new class of preferred shares, to be listed under the ticker ‘MORE’ on the London Stock Exchange Main Market. These preferred shares will offer a cumulative variable-rate weekly dividend, a liquidation preference, and a company option to redeem, but will not carry voting rights. The minimum required raise for the offering to proceed is £10 million. The proposal is subject to shareholder approval, regulatory clearance from the Financial Conduct Authority, and other listing conditions. The Smarter Web Company currently holds the largest public Bitcoin treasury in the UK, with approximately 2,747–2,878 BTC. Proceeds from the offering are intended to support the firm’s ongoing Bitcoin accumulation strategy. A general meeting for ordinary shareholders is scheduled for September 28, 2026, in Bristol to vote on the creation and allotment of the new shares.
