[Asia Economy Reporter Seo So-jeong] Celltrion Healthcare announced on the 17th through the disclosure of the report on the ownership status of specific securities by executives and major shareholders that CEO Kim Hyung-gi purchased 10,000 shares of the company on the open market.
The amount of this open market purchase was approximately 700 million KRW, increasing CEO Kim Hyung-gi's total company shareholding to 121,426 shares.
On the 10th of this month, Celltrion Healthcare and Celltrion each decided to repurchase their own shares worth 50 billion KRW (673,854 shares) and 100 billion KRW (547,946 shares), respectively. The Celltrion Group explained that due to the bearish stock market and falling stock prices, they judged that the corporate value was excessively undervalued and repurchased shares to stabilize the stock price and enhance shareholder value.
A Celltrion Healthcare official stated, "Considering that the recent stock price decline is somewhat excessive, CEO Kim Hyung-gi purchased 10,000 shares of the company on the open market as part of efforts to enhance shareholder value and responsible management," adding, "Celltrion Healthcare plans to continue its role in enhancing corporate value and shareholder value going forward."
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