Green bio specialist company Zenolution announced on the 9th that co-CEO Kim Ki-ok recently demonstrated his commitment to responsible management by purchasing additional company stocks on the market.
Previously, on the 19th of last month, Zenolution announced through a public notice that it had acquired shares from the previous largest shareholder, Hoyle Biomed, and that the largest shareholder had changed to CEO Kim Ki-ok.
Even after securing his position as the largest shareholder, CEO Kim used his personal funds to purchase an additional 29,700 shares of treasury stock on the stock exchange. The company explained that this purchase was based on its judgment that the stock price was undervalued relative to the company's intrinsic value due to recent market volatility.
CEO Kim Ki-ok stated that considering the company's technological prowess, assets, and growth potential, he believes the current stock price remains low compared to the company's value, and that as a member of the management team, he has taken steps to purchase stocks himself in consideration of shareholders' concerns.
He also added that he plans to increase corporate value and restore shareholder trust by strengthening the competitiveness of core businesses and generating performance in the future.
Recently, there has been a growing trend among bio companies where executives are demonstrating their commitment to responsible management by purchasing their own stock or increasing their stake.
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