Genolution (225220), a company specializing in green biotechnology, disclosed on the 18th that Co-CEO Kim Min-i acquired an additional 30,000 shares of the company's stock on the open market.
This purchase follows the open market purchase of treasury shares by Co-CEO Kim Ki-ok last March and carries the significance of conveying to the market the management's commitment to responsible management and enhancing shareholder value under the co-CEO system.
On March 9, Genolution announced CEO Kim Ki-ok’s purchase of treasury shares, publicly stating that the current stock price is undervalued relative to the company’s value. CEO Kim Min’s recent open market purchase is also seen as a decision by management that trusts the company’s growth potential and mid-to-long-term value.
Co-CEO Kim Min-yi stated, “Considering Genolution’s technological competitiveness and potential for business expansion, we determined that the current corporate value is not being sufficiently assessed.” He added, “As a co-CEO, I participated in the acquisition to fulfill my responsibility for the company’s growth and the enhancement of shareholder value.” He further added, “We will do our utmost to build market confidence by strengthening the competitiveness of existing businesses and securing new growth engines, thereby leading to a substantial improvement in corporate value.”
Meanwhile, Genolution is stably operating its molecular diagnostics business under a co-CEO system while focusing on expanding its RNA-based green bio business, and plans to strengthen shareholder trust through responsible management and performance in the future.
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