Inbio to Buy Back Up to 10% of Issued Shares
Inbio will begin a full-scale buyback of its own shares starting next year.
Inbio announced on the 25th that it is considering the purchase of treasury shares equivalent to 5% to 10% of its total issued shares next year. A treasury stock buyback is a representative shareholder return policy that can reduce the number of shares in circulation and is expected to have the effect of increasing earnings per share (EPS) and per-share value.
Inbio recently secured funds worth 20 billion won, thereby establishing a financial foundation to pursue policies aimed at enhancing shareholder value.
Management accountability efforts are also continuing. CEO Lee Myoungjae purchased 108,383 treasury shares on the open market over a five-month period starting in October last year.
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Meanwhile, at an extraordinary general meeting of shareholders held on the 17th, Inbio approved as originally proposed the agenda item to transfer capital reserves to retained earnings in order to offset accumulated deficits.
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