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Celltrion to cancel $140M in treasury shares

Published: 14 Mar. 2025, 17:22

LEE JAE-LIM
[email protected]

Logo of Celltrion [CELLTRION]

Celltrion will cancel treasury shares worth 203.3 billion won ($140 million) to enhance shareholder value, the Korean drugmaker said on Friday.

The shares set for cancellation are its entire treasury acquisition this year, totaling 1,101,379 shares, which account for 11 percent of the company’s total treasury holdings and 0.5 percent of total outstanding shares.

The cancellation will be completed on March 25, after which the company’s total outstanding shares will decrease from 214,108,119 to 213,006,740.

It is the company’s second major share cancellation this year. In January, Celltrion canceled 553.3 billion won in treasury shares, which was 25 percent of its treasury holdings at the time, following a board decision in December 2023.

Celltrion also plans to cancel all treasury shares it acquires throughout 2025. The company acquired 436 billion won worth of treasury shares in 2024, and approved an additional 100 billion won buyback in February this year. Including previously approved buybacks, the company has repurchased or is in the process of acquiring a total of 200 billion won in shares since January 2025.

“As the company continues to grow at a rapid pace, we will further expand our shareholder return policies to achieve mutual growth with our investors,” Celltrion spokesperson said in a statement.

BY LEE JAE-LIM [[email protected]]