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[Alpha Biz=(Chicago) Reporter Paul Lee] The Samsung Electronics owner family, including Hong Ra-hee, former director of Leeum Samsung Museum of Art, Hotel Shilla President Lee Boo-jin, and Samsung Welfare Foundation Chairman Lee Seo-hyun, are selling their shares in Samsung Electronics through a block deal.
According to related industries on the 11th, former Director Hong Ra-hee, President Lee Boo-jin and Chairman Lee Seo-hyun are predicting demand to sell a total of 2.19 trillion won (29,829,183 shares) stake in Samsung Electronics in a block deal.
Former director Hong is known to have the largest share of 19,324,106 shares (0.32% stake). The next is Lee Seo-hyun, chairman of the board, with 8,103,854 shares (0.14%) and Lee Boo-jin with 2,401,223 shares (0.04%). The sale price per share is 1.2 to 2.0% off from the closing price of 73,600 won on the day. The organizers are known as Goldman Sachs, Citi, UBS and JP Morgan.
President Lee Boo-jin will also sell some shares of Samsung C&T (0.65%), Samsung SDS (1.95%) and Samsung Life Insurance (1.16%) in the form of block deals. The sale is worth about 640 billion won. As a result, the three mothers and daughters are seeking to sell about KRW 2.8 trillion worth of stocks.
Earlier, the three mothers and daughters signed a trust contract with Hana Bank in October last year to dispose of their stakes in Samsung Electronics to pay inheritance taxes. They will use the funds raised through the block deal to pay inheritance taxes.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
