Celltrion and Celltrion Healthcare to Buy Back Shares Worth 150 Billion KRW

Incheon Songdo Celltrion Plant 2 Overview. / Incheon - Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Chunhee Lee] Celltrion and Celltrion Healthcare will repurchase their own shares to stabilize stock prices and enhance shareholder value.

Celltrion and Celltrion Healthcare announced on the 10th that they held board meetings and decided to acquire treasury stocks. Celltrion will acquire 547,946 common shares, amounting to approximately 100 billion KRW based on the closing price on the previous business day, the 7th. Celltrion Healthcare will purchase 673,854 common shares, worth about 50 billion KRW based on the closing price on the 7th. Both companies plan to acquire treasury stocks through on-market purchases from the 11th until April 10.

The Celltrion Group explained that the decision to repurchase shares was made as part of responsible management, judging that the corporate value has been excessively undervalued due to the recent stock market downturn and stock price decline. As of the 10th, Celltrion holds 1,323,130 treasury shares, and Celltrion Healthcare holds 1,736,205 treasury shares.

A representative of the Celltrion Group said, “Considering the company's intrinsic value and growth potential, we judged the current stock price level to be excessively undervalued compared to corporate value, which led to this treasury stock repurchase. We will continue responsible management to preserve corporate value and enhance shareholder value.”

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