Seoul: Foreign ownership of Celltrion Inc., a South Korean biotech company, has risen over the past six months, driven by strong earnings and increased relationship-building activities with overseas investors, the company said Tuesday.

According to Yonhap News Agency, offshore ownership of the firm rose 3.4 percentage points to 24.5 percent over the past six months as of end-June, based on data provided by the company. During the same period, foreign investors purchased around 1.8 trillion won (US$1.18 billion) in bio companies listed on the benchmark KOSPI, with 1.6 trillion won concentrated in Celltrion.

The increase in foreign ownership is linked to expectations that Celltrion will continue its strong performance in the second quarter. The company has reported an estimated second-quarter operating profit of 430 billion won, up 77.3 percent on-year, while sales climbed 35.2 percent on-year to 1.3 trillion won. These figures represent the highest second-quarter estimate on record, the company explained.

Additionally, the rise in foreign stake is attributed to enhanced investor relations (IR) activities outside of South Korea. Celltrion has been conducting several non-deal road shows (NDR) in major financial districts, including in the United States, Tokyo, and Singapore, to broaden its base among global institutional investors.

Looking ahead, Celltrion plans to expand its IR activities in the second half of the year, beginning with Europe this month. In September, the company intends to invite approximately 50 foreign investors to South Korea for a "Research and Development (RandD) Day" event aimed at showcasing the company's RandD competitiveness and outlining its long-term goals.

"We are seeking to continue expanding direct communications with global investors by holding both NDRs and conferences in various areas," Celltrion stated. "The company will make efforts to strengthen our base with long-term investors and improve corporate value through active IR activities."