Cell Biotech Co., Ltd. announces an Equity Buyback for KRW 10,000 million worth of its shares.
July 31, 2019 at 06:13 am
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Cell Biotech Co., Ltd. (KOSDAQ:A049960) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with Hana Financial Investment Co., Ltd. The purpose of the program is to improve shareholder value and stabilize the stock price. The program is valid until January 30, 2020. As of July 30, 2019, the company had 1,896,000 shares in treasury within scope available for dividend and no shares in treasury through other repurchase.
CELLBIOTECH Co., Ltd is a Korea-based company engaged in the manufacturing of bio products. The Company's products include lactic acid bacteria (LAB) powders and finished products containing LABs. Its LAB powders are used as raw materials in foods and medicines for the functions of immunization enhancement and digestion improvement. Its finished products containing LABs are used for intestinal health improvement, carcinogen inhibition, calcium supplement and others. The Company distributes its products within domestic market and to overseas markets.