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[Alpha Biz=(Chicago) Reporter Paul Lee] Seegene announced on the 13th that it held a board of directors meeting and decided to buy back its own stock in order to increase shareholder value and promote stock price stability. The buyback period is until July 15 next year.
Seegene plans to sign a trust contract with Samsung Securities to purchase common stocks worth 30 billion won in the market. Since 2017, Seegene has decided to repurchase its own stock on a total of six occasions. The fifth purchase of treasury shares started in March and is expected to continue until next month.
As of this day, Seegene owns 5,623,973 treasury shares, or 10.8% of the total number of issued shares. Seegene plans to use its treasury shares for future technology sharing projects. The technology sharing business is a business that develops and produces locally customized products by sharing Seegene's PCR know-how with global diagnostic companies free of charge.
Seegene believes that collaboration with equipment IT consumables companies will be necessary to promote the technology sharing business in earnest. We are continuously reviewing mergers and acquisitions related to this.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
