Green bio specialist company Zenolution announced on the 21st that its management purchased its own stock.
According to the electronic disclosure, the total purchase amount is 17,000 shares, and key executives including Kim Min-i, the director of the research institute (CTO), and Kim Sang-hoon, the vice president (CFO) participated in the purchase of treasury stocks. In particular, Director Kim Min-i also purchased 11,000 shares on the market in 2023.
The company explained that this treasury stock purchase was “done based on the judgment that the current stock price does not sufficiently reflect the company’s intrinsic value, and is part of responsible management based on the management’s trust in the company’s mid- to long-term growth potential and technological prowess.”
A company official added, “Although we developed the world’s first genetic treatment for honeybee cyst rot disease through joint research with the National Institute of Animal Quarantine last year and obtained product approval, the company’s value is currently undervalued with a PBR (price-to-book ratio) of less than 1.” He continued, “This treasury stock purchase is intended to demonstrate management’s will and responsibility to restore corporate value.”
Meanwhile, Zenolution is expecting a full-fledged performance turnaround this year through the launch of the latest diagnostic equipment, home shopping launch of beauty devices, and sales of a treatment for honeybee cyst rot.
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