Celltrion has announced plans to buy back approximately 100 billion won (about $100 million) in its own shares.
The company revealed this decision following a board meeting on October 26. With this latest buyback, the total amount of shares Celltrion plans to repurchase this year will reach 500 billion won.
The current buyback involves a total of 514,404 shares, valued at around 100 billion won based on the closing price the day before the board resolution. The share repurchase will take place through on-market purchases from October 27 to January 26 of next year.
Celltrion stated that the additional buyback aims to stabilize its stock price and enhance shareholder value. This move comes just a month after the company decided on a similar buyback of 100 billion won, demonstrating its commitment to increasing shareholder value.
However, the company has not yet determined whether the repurchased shares will be canceled. This decision will be made after gathering shareholder opinions at the regular shareholders' meeting scheduled for March next year.
A Celltrion representative stated, "We will consistently implement our long-term principle of returning one-third of our consolidated net profit to shareholders while continuing to invest in the company's growth without interruption."
This marks the fifth share buyback for Celltrion this year. The company previously announced similar buybacks of 100 billion won in April, May, August, and September.
Since 2022, Celltrion has been steadily repurchasing its shares. It bought back 886 billion won worth of shares in 2023 and approximately 534.6 billion won in 2024, continuing its trend of significant share buybacks and cancellations last year.
Meanwhile, this decision comes amid a trend of improving performance for Celltrion. The company reported an estimated revenue of 1.5 trillion won and an operating profit of 510 billion won for the third quarter of this year.
* This article has been translated by AI.
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