Celltrion announced on the 28th that it has decided to conduct an additional share buyback worth about 100 billion won. The buyback will involve 631,712 shares and will be carried out through a market purchase starting on the 29th of this month.
Since January this year, the cumulative amount of shares acquired by Celltrion has reached about 450 billion won, surpassing last year's total buyback amount of approximately 436 billion won. Recently, Seo Jeong-jin, chairman of the Celltrion Group, along with the holding company Celltrion Holdings and the group's subsidiary Celltrion Skin Cure, decided to acquire shares worth 50 billion won, 100 billion won, and 50 billion won, respectively. The total scale of Celltrion shares purchased in the market at the group level is expected to amount to about 650 billion won.
Celltrion employees are also participating in stock purchases through an employee stock ownership association. The association provides loans for purchase funds based on the maximum annual contract salary of each employee and is in the process of proceeding with subscription procedures to conduct stock acquisitions through market purchases.
Meanwhile, the total amount of shares that Celltrion has either completed the cancellation of or decided to cancel this year has exceeded about 800 billion won.
A Celltrion official said, "We are accelerating the maximization of shareholder value based on the judgment that the corporate value is undervalued," and stated, "Despite increased domestic and international uncertainties, Celltrion is committed to expanding its performance and enhancing its competitiveness with confidence in growth."