Celltrion Announces Major Share Buyback and Cancellation of 9.11 Million Shares
Celltrion has announced that the cancellation of 9.11 million of its own shares will take effect on the 1st. This decision was approved by the board on the 24th of last month and marks the largest share cancellation in the company’s history, exceeding the combined amounts of share cancellations planned for 2024 (701.3 billion KRW) and 2025 (895 billion KRW). The total value of this cancellation is approximately 1.7154 trillion KRW, which represents about 4% of the total number of issued shares.
On the effective day of the share cancellation, Celltrion plans to immediately proceed with the necessary registration filing and aims to complete the administrative procedures swiftly. Following the completion of these registration procedures on the 3rd, the company will apply for a change in listing on the Korea Exchange on the 6th. The finalization of the listing change process is expected to be completed by the 13th of this month.
Included in this share cancellation are 3 million shares that were previously held for employee stock options. After this cancellation, Celltrion intends to strategically utilize the remaining approximately 3.23 million shares for future growth drivers, such as mergers and acquisitions (M&A), the introduction and development of new technologies, and facility investments.
Through the recent cash dividend of 750 KRW per share and the share cancellation, Celltrion recorded a shareholder return rate of approximately 103% last year. This figure is among the highest in its industry and more than double the three-year average target of 40% proposed in its corporate value enhancement plan.
A representative from Celltrion stated, "In light of the increasing uncertainties in the global economy, we have promptly executed our plans for a large-scale share buyback as scheduled. We will continue to practice responsible management and strive to enhance corporate growth and shareholder value."
On the effective day of the share cancellation, Celltrion plans to immediately proceed with the necessary registration filing and aims to complete the administrative procedures swiftly. Following the completion of these registration procedures on the 3rd, the company will apply for a change in listing on the Korea Exchange on the 6th. The finalization of the listing change process is expected to be completed by the 13th of this month.
Included in this share cancellation are 3 million shares that were previously held for employee stock options. After this cancellation, Celltrion intends to strategically utilize the remaining approximately 3.23 million shares for future growth drivers, such as mergers and acquisitions (M&A), the introduction and development of new technologies, and facility investments.
Through the recent cash dividend of 750 KRW per share and the share cancellation, Celltrion recorded a shareholder return rate of approximately 103% last year. This figure is among the highest in its industry and more than double the three-year average target of 40% proposed in its corporate value enhancement plan.
A representative from Celltrion stated, "In light of the increasing uncertainties in the global economy, we have promptly executed our plans for a large-scale share buyback as scheduled. We will continue to practice responsible management and strive to enhance corporate growth and shareholder value."
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