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.
16 Articles
16 Articles
Samsung Chief Lee to Buy W1.94tr Stake from His Mother
Get latest articles and stories on Business at LatestLY. Samsung Electronics Chairman Lee Jae-yong plans to buy 7.19 million shares in the chipmaker from his mother, Hong Ra-hee, in a 1.94 trillion won (USD 1.45 billion) off-market transaction that will increase his direct stake in the company, according to a report by The Korea Herald. Business News | Samsung Chief Lee to Buy W1.94tr Stake from His Mother.
Samsung Electronics chairman to buy $1.42 billion worth of shares from mother
Samsung Electronics Chairman Lee Jae-yong will purchase 1.9 trillion won ($1.42 billion) worth of the company's shares from his mother, the tech giant said Wednesday. Lee plans to buy 7,188,793 shares from Hong Ra-hee, representing 0.11 percent of the company's total shares, at 269,500 won per share in an off-exchange transaction on Oct. 12, according to the company in a regulatory filing. With the purchase, Lee's total stake in the company will…
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.
Coverage Details
Bias Distribution
- 38% of the sources are Center, 37% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
