SEOUL– South Korean biopharmaceutical giant Celltrion Inc. on Monday announced a 100 billion-won (US$83.3 million) share buyback plan to stabilize stock prices and increase its shareholders’ value.
Its affiliate, Celltrion Healthcare, which handles overseas business operations, will also repurchase 50 billion won of its shares.
The buyback plans are scheduled to start Jan. 11 and run until April 10, the companies said, adding their boards of directors made the decisions.
Currently, Celltrion owns 1.32 million shares, and Celltrion Healthcare holds 1.73 million shares.
Source: Yonhap News Agency