Dong-A ST Decides to Buy Back Own Shares Worth 10 Billion KRW
[Asia Economy Reporter Lee Gwan-ju] Dong-A ST announced on the 26th that it held a board meeting and decided to repurchase its own shares worth a total of 10 billion KRW to enhance shareholder value.
The share repurchase will begin on the 27th and will be conducted four times over the course of one year. The method chosen is direct acquisition, which requires completing the purchase of a specified amount within a designated period.
A Dong-A ST official explained the background, stating, "Along with the technology export of new drug candidates 'DA-1241' and 'DA-1726,' we are expected to become the largest shareholder of Neurobo Pharmaceuticals, a Nasdaq-listed company based in Boston, USA. Considering our pipeline and solid performance, we judged the current valuation to be undervalued compared to the corporate value."
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He added, "This is the first share repurchase since transitioning to a holding company structure," and said, "We will make further efforts to enhance shareholder value."
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