Celltrion 50 Billion KRW · Celltrion Healthcare 25 Billion KRW Scale
"For Stock Price Stability and Shareholder Value Enhancement"
[Asia Economy Reporter Myunghwan Lee] Celltrion and Celltrion Healthcare announced on the 1st that they held a board meeting and decided to repurchase their own shares to stabilize the stock price and enhance shareholder value.
Celltrion decided to repurchase 309,406 shares, with an estimated acquisition amount of approximately 50 billion KRW. Celltrion Healthcare plans to acquire 437,000 shares at 25 billion KRW. Both companies plan to acquire their own shares through on-market purchases from the 2nd to May 1st.
Celltrion Group explained that this share repurchase decision was made based on the judgment that the group continues steady growth in the global market through biopharmaceutical and chemical pharmaceutical businesses, and that the current stock price level is still undervalued.
Last year, the two companies also completed share repurchases worth 253.5 billion KRW (1,555,883 shares) for Celltrion and 85 billion KRW (1,303,854 shares) for Celltrion Healthcare.
A Celltrion Group official stated, "Following last year, this year as well, both companies are conducting share repurchases with confidence in business growth and efforts to enhance shareholder value," adding, "Celltrion Group will do its best to strengthen business competitiveness and preserve corporate value and enhance shareholder value through securing various product pipelines, future growth engines, and expanding global sales."
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