Seoul: The chief of Celltrion Inc., a prominent South Korean biopharmaceutical company, along with its two affiliates, will collectively purchase 200 billion won (US$135 million) worth of Celltrion stocks in a strategic move aimed at enhancing shareholder value, the company announced.
According to Yonhap News Agency, Celltrion Chairman Seo Jung-jin will individually acquire 50 billion won worth of Celltrion shares starting from May 9, utilizing his private funds. Concurrently, Celltrion Holdings and Celltrion Skincure are set to invest 100 billion won and 50 billion won, respectively, in purchasing the stocks. The company emphasized in a press release that these acquisitions will occur during trading hours, underscoring the chairman's commitment to responsible management and the bolstering of shareholder value.
Celltrion Holdings, as the holding entity of Celltrion Group, currently holds a 21.96 percent stake in Celltrion, whereas Celltrion Skincure maintains a 1.89 percent stake in the pharmaceutical firm. Beyond this stock acquisition initiative, Celltrion has recently undertaken assertive measures to boost both corporate and shareholder value through stock buybacks and cancellations.
The company has been actively engaged in repurchasing its own shares, amounting to 350 billion won, since the beginning of the year. Additionally, plans are underway to cancel more than 800 billion won worth of stocks within the year. In a proactive measure against U.S. President Donald Trump's reciprocal tariffs, Celltrion has already dispatched sufficient inventory to the United States to satisfy customer demand for an entire year.
Furthermore, a company spokesperson indicated that a decision on whether to establish a production facility in the U.S. would be made by the year's end.