Celltrion will buy back about 100 billion won worth of its own shares. It is a follow-up measure to the plan to enhance corporate value released in March.
Celltrion said on the 22nd that its board of directors decided to buy about 492,611 of its own shares on the market starting on the 23rd. The company noted the decision took into account the growing need to reassess corporate value amid external uncertainties such as the Middle East war.
Celltrion retired 9.11 million shares (about 1.8 trillion won) of its own stock on the 13th, reducing about 4% of its total outstanding shares.
The company said, "Including last year's share retirements and cash dividends, we recorded a shareholder return ratio of about 103%," adding, "This is far above the previously presented three-year average target of 40%."