Celltrion (068270.KS) is pursuing a plan to acquire and purchase shares worth a total of 270 billion won.
Celltrion announced this in a "Letter to Shareholders" posted on its website Wednesday, saying, "As procedures related to the bonus issue have been completed, we plan to push ahead in earnest with follow-up measures to enhance shareholder value and strengthen responsible management."
Of the total 270 billion won, 100 billion won will be used for treasury stock buybacks and another 100 billion won for acquiring shares of Celltrion Holdings, while the remaining 70 billion won will be used to acquire employee stock ownership. Since treasury stock acquisition is permitted under relevant regulations only after the record date for the bonus issue new share allocation, the company plans to proceed with the 100 billion won treasury stock buyback starting Thursday.
The company emphasized that, based on employees' trust in the company's growth and their willingness to participate, it will proceed with the 70 billion won employee stock ownership acquisition starting that day, thereby strengthening the long-term growth direction of both employees and the company. In accordance with the Capital Markets Act and its enforcement decree, Celltrion Holdings will sequentially pursue the 100 billion won share acquisition starting on the 18th.
Celltrion wrote, "We are carrying out the business plan established at the beginning of the year without any setbacks, and the current progress of our business is also maintaining a positive trend compared to the plan." It added, "Core tasks including major business activities, sales, product development, production and investment are also proceeding as planned, and the exchange rate environment is acting as a positive factor for the company's business operations and profitability." It stressed, "Going forward, we plan to continue reviewing various measures to enhance shareholder value and to swiftly implement necessary actions in consideration of market conditions and related procedures."
