Celltrion Continues 'Shareholder Return' Strategy...Decides to Buy Back 75 Billion KRW of Treasury Shares
Celltrion has initiated a buyback of its own shares worth approximately 75 billion KRW.
On the 5th, Celltrion announced that it decided to acquire 425,895 of its issued shares as treasury stock. Based on the previous day's closing price of 176,100 KRW per share, the total amount is about 75 billion KRW. The company plans to acquire the shares through on-market purchases starting from the 6th, and the actual total acquisition amount may vary depending on future stock price fluctuations.
The company explained that despite recent efforts to secure future growth engines, such as consecutive overseas major country approval applications for its biosimilar product lineup and new drug launches, the corporate value has been continuously undervalued. Therefore, it decided to repurchase its shares to stabilize the stock price and enhance shareholder value.
Celltrion Group purchased treasury shares worth approximately 1.25 trillion KRW last year. Since the launch of the integrated Celltrion following the merger of Celltrion Healthcare, the company has continued efforts to enhance shareholder value, including the cancellation of 2,309,813 shares (about 495.5 billion KRW) of treasury stock in January.
A Celltrion representative said, “This year, significant issues such as the U.S. market entry of the new drug Jimptetra and the full-scale expansion of the product portfolio are lined up for a quantum jump. Therefore, before the full-scale growth, we decided to repurchase shares to enhance shareholder value. We will do our best to strengthen business competitiveness and maximize business performance to also improve shareholder value.”
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Meanwhile, Celltrion decided on a cash dividend of 500 KRW per share, totaling 103.7 billion KRW, at the end of last year. The dividend will be finalized at the upcoming regular shareholders' meeting on the 26th and then distributed.
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