Celltrion to buy back $69 mil. of stocks for enhanced shareholder value
An exterior view of Celltrion’s second factory in Incheon / Courtesy of Celltrion
Celltrion, a major Korean biopharmaceutical firm, said Wednesday it will buy back 100 billion won ($69 million) worth of its own stocks to boost its shareholder value.
Celltrion will purchase 554,632 stocks during trading hours starting Thursday in its first share buyback of the year, the company said in a press release.
The bio firm completed a buyback of about 2.94 million shares valued at 534.6 billion won in 2024.
"The company prioritizes improving shareholder value alongside growth, while making efforts to launch new products and further strengthen its presence in the market," a Celltrion official said in the release.
Meanwhile, the company said it has canceled 553 billion won worth of stocks, a move approved by its board at the end of last year. (Yonhap)