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Stock impact report

Samsung Electronics family to sell $1.2 billion stake amid share rally [Yahoo! Finance]

Shinhan Financial Group Co Ltd American Depositary Shares (SHG) 
US:NYSE Investor Relations: shinhangroup.co.kr/en/invest/main.jsp
Company Research Source: Yahoo! Finance
Lee plan to sell some 1.73 trillion won ($1.22 billion) worth of shares in the South Korean tech firm, the company said in a regulatory filing. The purpose of the sale of 17.7 million shares, or a 0.3% stake in Samsung Electronics, is to cover tax payments and loan repayment, according to the late Friday filing with the Korea Exchange. Experts view the sale by Lee's sisters Lee Boo-jin and Lee Seo-hyun and his mother, Hong Ra-hee, as part of the owner family's efforts to secure funds to pay their inheritance tax estimated at about 12 trillion won, following the 2020 death of Samsung patriarch Lee Kun-hee. The sale will be handled by Shinhan Bank under a trust contract and completed by next April, according to the filing. Samsung shares have jumped more than 48% since it announced a chip-supply deal with Tesla in July. It has secured supply deals with other major customers such as OpenAI , and expectations have risen that the company will be able to supply its latest high-bandw Show less Read more
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