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.

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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