Hugel, 4th Share Buyback... "Confidence in Corporate Growth"

[Asia Economy Reporter Hyunseok Yoo] Hugel announced on the 10th that it has decided to repurchase its own shares to enhance shareholder and corporate value and stabilize its stock price. The total trust contract is worth 30 billion KRW, and the period is from the board resolution date, today, until September 9. The contracting institution is Samsung Securities.

This is Hugel's fourth share repurchase. Previously, Hugel acquired a total of 240,000 shares worth approximately 87.4 billion KRW through three rounds of on-market purchases from 2018 to 2019. Among these, 100,000 shares were canceled. Subsequently, the company continuously made efforts to enhance shareholder value, including a stock dividend of 200% (two new shares for every one common share).

The company stated, "Although Hugel possesses unparalleled global competitiveness within the industry, we judged that the stock price was excessively undervalued compared to the actual corporate value due to external factors causing a decline in stock price. We decided to repurchase shares to improve the undervaluation through stock price recovery and to express the company's confidence in continuous future growth."

Hugel successfully entered the Chinese botulinum toxin market last year, becoming the first domestic company to do so. Starting with the online launch event of the botulinum toxin product 'Letybo' (Chinese export name) in February, the Chinese business has officially entered its growth phase. Following China, the company expects corporate growth to accelerate further with the acquisition of European product approval for the botulinum toxin product around mid-year and entry into the North American market next year.

A Hugel official said, "The next three years will be a 'great leap period' during which Hugel will repeatedly achieve remarkable growth as a global company. This share repurchase is not merely a means to boost the stock price but will serve as an opportunity to enhance market trust by expressing confidence in corporate value." He added, "Since Hugel has been dedicated to enhancing shareholder and corporate value through efforts such as simplifying the governance structure, stock dividends, and four rounds of share repurchases, it plans to continue various shareholder-friendly policies in the future."

This content was produced with the assistance of AI translation services.