CTCBIO., Inc. announces an Equity Buyback for KRW 3,000 million worth of its shares.
August 08, 2014
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CTCBIO., Inc. (KOSDAQ:A060590) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of shares pursuant to a trust contract with Daishin Securities Co. Ltd. The purpose of the repurchase program is to stabilize the company's share price and to enhance shareholders value.
The share repurchase program is valid until February 7, 2015. As of August 7, 2014, the company had 130,811 shares in treasury within scope available for dividend and had 5,174 shares in treasury through other repurchases.
CTCBIO Inc. is a Korea-based company engaged in the manufacture and marketing of pharmaceuticals, veterinary drugs, animal feed supplements and functional foods. It pharmaceuticals include anticancer agents, antibiotics, bone injury treatments, antiulcer agents, blood flow stimulants and others. Its veterinary drugs include vaccines, antibiotics, immune enhancers, enzymes, organic acid, avian influenza-related agents and others. Its animal feed supplements include pigments, kapok seed meal, sesame meal and others. Its functional food business includes the development and manufacture of enzymes, lactobacillus and related products mainly used in dairy products. It also involves in the development of pharmaceutical manufacturing technology and know-how. The Company distributes its products within domestic market and to overseas markets.