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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, June 5 — Celltrion has completed the cancellation of treasury shares worth about 100 billion won ($75 million), stepping up its shareholder return strategy.
The company said the retirement of approximately 489,000 shares has reduced its total outstanding shares, which is expected to improve earnings per share (EPS) and enhance shareholder value.
The move follows Celltrion’s previously announced plan to repurchase and fully retire treasury shares, with an additional 100 billion won buyback currently underway. If completed, total share cancellations this year could reach up to 2 trillion won.
Celltrion highlighted that it has retired about 18.6 million shares over the past three years, equivalent to roughly 8.4% of total shares, calling it one of the most aggressive shareholder return programs in South Korea’s biotech sector.
The company cited strong earnings momentum as a key driver, reporting record quarterly results in the first quarter, and aims to achieve 5.3 trillion won in annual revenue and 1.8 trillion won in operating profit this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065609585083111
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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