Samsung Electronics Chairman Lee to Buy 1.9 Trillion Won Worth of Shares From His Mother
The 7,188,793-share off-market deal would raise Lee’s stake to 1.58% and is aimed at covering inheritance tax loans, the filing said.
- On Wednesday, Samsung Electronics Chairman Jay announced plans to buy 1.9 trillion won in shares from Hong Ra-hee, with the transaction scheduled for October 12.
- Hong is selling the shares to repay loans taken out to cover inheritance taxes following the 2020 death of Lee Kun-hee; the family completed payments on the roughly 12tn won tax bill earlier this year.
- The transaction involves over 7.1 million shares priced at 269,500 won each, representing a 0.11% stake in Samsung. By conducting an off-market sale, the family avoids moving the stock price.
- Using dividends and unsecured borrowing, Lee is financing the acquisition, which increases his total holding from 1.47% to 1.58% across common and preferred stock.
- Separately, Samsung told a Seoul press conference that it is jointly developing next-generation chips with OpenAI, with accelerated fab construction contributing to South Korea's upward revision of its 2040 electricity forecast.
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Samsung Electronics Chairman Lee to buy 1.9 trillion won worth of ...
Samsung Electronics Chairman Lee Jae-yong will purchase approximately 1.9 trillion won worth of Samsung Electronics shares held by his mother, Hong Ra-hee, former director of the Leeum Museum of Art, through an over-the-counter (OTC) transaction. According to the Financial Supervisory Service's electronic disclosure system on the 9th, Chairman Lee plans to purchase 7,188,793 common shares of Samsung Electronics held by former Director Hong on Oc…
Lee Jayong's share of Samsung Electronics 1.47% → 1.58% Hong Ra-hee, Honorary Director of Leeum Museum of Art, sold Samsung Electronics shares worth 1.9 trillion won to Samsung Electronics Chairman Lee Jayong. On the 9th of Samsung Electronics, Chairman Lee Jayong held a 0.11% stake in Samsung Electronics as Director Hong Ra-hee
Channel News Asia
PressNewsAgencySamsung Electronics Chairman Lee to buy 1.9 trillion won worth of shares from his mother
SEOUL, Sept 9 : Samsung Electronics Chairman Jay Y. Lee will buy 1.9 trillion won worth of shares in the company from his mother, Hong Ra-hee, Lee said in a company filing on Wednesday. He will buy the shares on October 12, according to the filing.
Samsung Electronics Announces Lee Jae-yong (left), and his mother and former Leeum Museum of Art Director Hong Ra-hee. (Photo provided by Samsung Electronics) Samsung Electronics Remains Lee Jae-yong has purchased to purchase sold 1.9 won (about $1.42 billion) worth of Samsung Electronics common shares over-the-counter from his mother, former Leeum Museum of Art Director Hong Ra-hee. This transaction is intended to repay the loans the former dir…
Samsung Electronics Chairman Lee Jae-yong purchased 7,188,793 shares of Samsung Electronics stock from his mother, Hong Ra-hee, Honorary Director of the Leeum Museum of Art, on the 9th. The total value of the purchase amounts to 1.9374 trillion won. Samsung Electronics disclosed on this day that Chairman Lee acquired the shares from Director Hong through an over-the-counter transaction. Chairman Lee purchased 7,188,793 common shares at 269,500 …
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