Orient Plans On-Market Purchase of 3 Million Orient Bio Shares
Orient will purchase 3 million common shares of Orient Bio on the stock market by the 8th of next month.
According to Orient on August 10, the recent acquisition of shares in its affiliates Orient Genia and Galaxy has increased the combined shareholding of Orient and its related parties in Orient Bio to about 40%. This on-market purchase is a strategic decision aimed at further increasing its stake, boosting the company's currently undervalued corporate value, and establishing a foundation for enhancing long-term shareholder value.
Orient Bio is a leading company in the domestic laboratory animal sector. Following rodents, Beagle dogs, and non-human primates (NHP), the company recently established a production system for laboratory rabbits through a technology partnership with Japan's Kitayama Labes. Based on its contract research organization (CRO) business and the supply of biological resources for research, the company supports Korea's bio research and development ecosystem.
Orient plans to continue expanding its support for Orient Bio based on its solid financial foundation. Last year, Orient reported a net profit of about 25.8 billion won and holds approximately 40 billion won in cash equivalents. The company explained that this provides enough financial capacity to support business initiatives aimed at boosting corporate value and to consider additional stock acquisitions.
Hot Picks Today
"Plunge Is Over, Now Is a Re-entry Opportunity"... Major Turnaround in Bearish Semiconductor Outlook After "Winter Is Coming" Warning
- "Can't Stand This: Why Change the Promised Bonus?"... 3,500 SK hynix Employees Rally
- Why Was the Taxi Driver Acquitted After Driving Following Three Shots of Soju During the Day?
- [In-Depth Look at Funds and Mutual Aid Associations]⑥ "Alternative Investments, Charge Forward" Military Mutual Aid Association Aiming for 30 Trillion Won in Assets
- "How Embarrassing... No Wonder Koreans Are Criticized": Korean-Labeled Trash Found at Famous Japanese Tourist Site Shocks Locals
An Orient official stated, “Orient Bio is a core bio affiliate of the group with Korea's highest-level laboratory animal production technology and non-clinical research capabilities,” adding, “We believe the company's current corporate value does not fully reflect its competitiveness and growth potential.” The official continued, “As the largest shareholder, we will strengthen responsible management through on-market share purchases, group-level business support, continued investment, and the pursuit of new growth engines,” and added, “We will actively support Orient Bio so that it can grow into a global bio research infrastructure company.”
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
