Celltrion Initiates Treasury Stock Cancellation Procedure Worth 495.5 Billion KRW to "Enhance Shareholder Value"

Celltrion announced on the 8th that it has begun the application process for the cancellation of approximately 2.3 million treasury shares, a resolution made to enhance shareholder value.

With the launch of the integrated Celltrion, the company plans to strengthen its global competitiveness while continuing shareholder-friendly policies such as treasury share cancellation.

The treasury shares to be canceled this time total 2,309,813 shares, accounting for 1.05% of the total issued shares. Based on the closing price on the 5th, this amounts to approximately KRW 495.5 billion. Following the share cancellation, Celltrion's total issued shares are expected to decrease from 220,295,200 shares to 217,987,070 shares. The scheduled date for excluding the canceled shares from the listed stock is the 15th.

This treasury share cancellation was decided through a board resolution on October 23 of last year, aimed at stabilizing the stock price and enhancing shareholder value.

A Celltrion representative stated, "We will continue to earn shareholders' trust through ongoing communication this year and do our best to further enhance the company's value."

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