Celltrion is stabilizing its stock price and increasing shareholder returns through share buybacks and cancellations.
On June 4, Celltrion announced that the procedure for canceling shares worth approximately 100 billion won has been finalized through a listing change. A total of 489,977 shares have been canceled, reducing the total number of shares issued by Celltrion to about 221.63 million.
This share cancellation is part of the company's plan to buy back and cancel shares worth around 100 billion won, which was recently disclosed. The company stated, "We expect that the reduction in the number of shares will lead to an improvement in earnings per share (EPS) and an increase in per-share value."
In addition to the share cancellation, Celltrion is pursuing further shareholder return policies. The company has decided to buy back an additional 100 billion won worth of shares and is currently in the process of acquiring them. If these shares are canceled by the end of the year, the total amount of shares canceled this year is expected to reach about 2 trillion won.
According to Celltrion, the cumulative amount of shares canceled over the past three years is approximately 18.56 million shares, accounting for about 8.4% of the current total shares issued.
Celltrion is also rapidly implementing comprehensive market response measures announced last month. Currently, the company is conducting a free capital increase of about 10.92 million shares, along with stock purchases of 1 billion won each by the company and its largest shareholder, totaling 2 billion won.
The company's performance is showing improvement. In the first quarter of this year, Celltrion recorded consolidated sales of 1.145 trillion won, a 36% increase compared to the same period last year. Operating profit surged by 115.5% to 321.9 billion won, achieving the highest quarterly performance to date. This growth is attributed to the expansion of high-profit biosimilar products and improvements in profitability, with analysts predicting even stronger growth in the second half of the year.
Celltrion has set an annual sales target of 5.3 trillion won for this year, aiming to enter the '5 trillion club' after surpassing 4 trillion won in sales last year. The company and its largest shareholder are in the process of acquiring stocks worth a total of 2 billion won, and employees are also expected to participate in voluntary stock purchases through employee stock ownership plans.
A Celltrion representative stated, "The continuous share cancellations and additional purchases reflect our confidence in our solid fundamentals and future growth. We will pursue both expanded shareholder returns and enhanced competitiveness in our core business to achieve sustainable growth and increase corporate value."
On June 4, Celltrion announced that the procedure for canceling shares worth approximately 100 billion won has been finalized through a listing change. A total of 489,977 shares have been canceled, reducing the total number of shares issued by Celltrion to about 221.63 million.
This share cancellation is part of the company's plan to buy back and cancel shares worth around 100 billion won, which was recently disclosed. The company stated, "We expect that the reduction in the number of shares will lead to an improvement in earnings per share (EPS) and an increase in per-share value."
In addition to the share cancellation, Celltrion is pursuing further shareholder return policies. The company has decided to buy back an additional 100 billion won worth of shares and is currently in the process of acquiring them. If these shares are canceled by the end of the year, the total amount of shares canceled this year is expected to reach about 2 trillion won.
According to Celltrion, the cumulative amount of shares canceled over the past three years is approximately 18.56 million shares, accounting for about 8.4% of the current total shares issued.
Celltrion is also rapidly implementing comprehensive market response measures announced last month. Currently, the company is conducting a free capital increase of about 10.92 million shares, along with stock purchases of 1 billion won each by the company and its largest shareholder, totaling 2 billion won.
The company's performance is showing improvement. In the first quarter of this year, Celltrion recorded consolidated sales of 1.145 trillion won, a 36% increase compared to the same period last year. Operating profit surged by 115.5% to 321.9 billion won, achieving the highest quarterly performance to date. This growth is attributed to the expansion of high-profit biosimilar products and improvements in profitability, with analysts predicting even stronger growth in the second half of the year.
Celltrion has set an annual sales target of 5.3 trillion won for this year, aiming to enter the '5 trillion club' after surpassing 4 trillion won in sales last year. The company and its largest shareholder are in the process of acquiring stocks worth a total of 2 billion won, and employees are also expected to participate in voluntary stock purchases through employee stock ownership plans.
A Celltrion representative stated, "The continuous share cancellations and additional purchases reflect our confidence in our solid fundamentals and future growth. We will pursue both expanded shareholder returns and enhanced competitiveness in our core business to achieve sustainable growth and increase corporate value."
* This article has been translated by AI.
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