ORIENTBIO(002630)[Edaily Reporter Kwon Oh Seok ] BioInfra Co.,Ltd. announced on the 24th that its largest shareholder, ORIENTBIO, will begin purchasing shares on the open market with the aim of stabilizing the stock price. (Photo courtesy of ORIENTBIO) The planned acquisition involves 3 million shares, representing approximately 5% of the total outstanding shares. The acquisition period is scheduled to run for 30 days starting August 10. Orient’s additional share acquisition is intended to strengthen responsible management as the largest shareholder and enhance shareholder value by stabilizing the stock price. Once the acquisition is complete, the combined stake held by Orient and its affiliates will reach 40.7%. A company official stated, “Orient’s expansion of its stake as the largest shareholder demonstrates the perception that the stock price is excessively undervalued and reflects a strong commitment to enhancing shareholder value,” adding, “In the future, should stock price stabilization be necessary, the largest shareholder and its affiliates, which have ample financial resources, plan to proceed with additional share acquisitions.”
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