 |
Photo = Celtrion |
[Alpha Biz= Kim Jisun] Celltrion has announced a new KRW 100 billion share buyback plan following its recent decision to cancel a portion of its treasury shares.
On April 3, Celltrion confirmed its third share repurchase of the year, bringing its total buyback volume in 2024 to KRW 350 billion. The latest repurchase will involve 589,276 shares, acquired through market purchases starting April 4.
Beyond buybacks, the company is also actively canceling its treasury shares. Including the shares scheduled for cancellation as of April 2, the total value of shares retired or in the process of being retired in 2024 exceeds KRW 800 billion. By repurchasing and canceling shares, the company reduces the total number of outstanding shares, thereby increasing the per-share value, a move widely regarded as a shareholder-friendly policy.
Last year, Celltrion bought back KRW 436 billion worth of shares and canceled over KRW 700 billion in stock, demonstrating its commitment to enhancing shareholder value. This year, the company has continued its aggressive buyback and cancellation strategy, reinforcing its pledge to prioritize shareholder returns.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
