Orient Bio's Largest Shareholder to Acquire 3 Million Shares... "Enhancing Shareholder Value"
Orient, the largest shareholder of OrientBio, has begun purchasing shares on the open market to stabilize the stock price.
According to OrientBio on June 24, the company plans to acquire 3 million shares, which accounts for approximately 5% of the total shares. The acquisition period is scheduled to run for 30 days, starting from August 10.
This additional share acquisition by Orient aims to strengthen responsible management as the largest shareholder and to enhance shareholder value through stock price stabilization. Once the transaction is completed, the combined stake of Orient and its related parties will reach 40.7%.
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A company representative stated, "The largest shareholder, Orient, increasing its stake demonstrates both a recognition that the stock is significantly undervalued and a strong commitment to enhancing shareholder value. If stock price stabilization is needed in the future, the largest shareholder and related parties, who have ample financial resources, plan to acquire additional shares."
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