Cheilbio Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
March 23, 2018 at 10:32 am IST
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Cheilbio Co., Ltd. (KOSDAQ:A052670) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its own shares pursuant to a contract with Mirae Asset Daewoo. co., ltd. The purpose of the buyback is to improve shareholder value and to stabilize stock price. The plan will be valid up to September 26, 2018. As of March 22, 2018, the company had 1,105,500 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
Cheilbio Co., Ltd. is a Korea-based company engaged in the manufacturing of veterinary drugs. The Company's offerings consist of antibiotics, antimicrobials, lactobacillus, enzyme preparations, parasiticides, antiseptics, organic trace minerals, vaccines, diagnostic kits including enzyme-linked immunosorbent assay (ELISA) test kits, virus test kits and deoxyribonucleic acid (DNA) kits, as well as feed additives. The Companyâs products are used for cattle, pigs, chickens, pets and other animals. It supplies its products mainly to the domestic market.