Celltrion announced on the 20th that it has decided to repurchase its own shares worth approximately 100 billion won through its board of directors. The shares to be repurchased this time total 649,351 shares and will be carried out through on-market purchases starting on the 21st.
Celltrion has conducted its sixth repurchase of shares this year alone. The cumulative repurchase amount this year has reached 550 billion won, significantly surpassing last year's total of about 436 billion won. Additionally, recently, Seo Jeong-jin, chairman of Celltrion Group, along with Celltrion Holdings and the affiliated company Celltrion Skin Cure, decided to acquire stocks worth 50 billion won, 100 billion won, and 50 billion won, respectively.
Celltrion employees are also participating in the purchase of our shares. The current scale of the ongoing our shares is about 40 billion won. The total amount of shares being purchased by the company, major shareholders, and employees in the market is about 80 billion won.
Celltrion is actively engaging not only in the repurchase of shares but also in their cancellation. Since January of this year, the total amount of shares that the company has either completed or decided to cancel is approximately 90 billion won, which is significantly larger than the 70 billion won worth of shares canceled last year.
The company plans to continue its shareholder-friendly policies, such as share repurchases and cancellations, to protect shareholders' interests if the undervaluation of the corporation continues due to unstable market conditions. An additional decision on share cancellation is expected to occur within the year.
A representative from Celltrion noted, "As uncertainty is expanding, we are proceeding with additional share repurchases based on the judgment that corporate value is undervalued, and we are accelerating the enhancement of shareholder value. Celltrion will continue to strive for corporate value improvement, returning profits to shareholders and achieving mutual growth."