Macrogen, Inc. announces an Equity Buyback for KRW 5,000 million worth of its shares.
November 01, 2020 at 10:51 pm EST
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Macrogen Inc. (KOSDAQ:A038290) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a trust contract with Mirae Asset Daewoo Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and increase shareholders value. The share repurchase program will continue until November 1, 2021. As of November 1, 2020, the company had 791,933 shares in treasury within scope available for dividend and had 1,851 shares in treasury through other repurchase.
Macrogen, Inc. is a Korea-based company mainly engaged in the customized transgenic and other services in the field of biomedical research. The Company operates its business through four divisions: deoxyribonucleic acid (DNA) sequencing division, DNA chips division, transgenic and knockout mouse division and oligonucleotide DNA division. Its DNA sequencing division provides genome sequencing analysis services. Its DNA chips division develops DNA chips products, such as Illumina chips, MacArray chips and customized chips. Its transgenic and knockout mouse division offers gene engineering services. Its oligonucleotide DNA division offers oligonucleotide DNA manufacturing services. The Company operates its business within domestic market and in overseas markets.
MACROGEN, INC. 
