Alphabiz - Samsung Life and Samsung Fire to Sell KRW 1.5 Trillion Worth of Samsung Electronics Shares

Photo courtesy of Yonhap News

 

 

[Alpha Biz= Kim Jisun] amsung Life Insurance and Samsung Fire & Marine Insurance have announced plans to sell a combined KRW 1.5 trillion worth of Samsung Electronics shares.

Samsung Life disclosed on March 19 that it will sell approximately 6.24 million shares of Samsung Electronics, with the transaction valued at around KRW 1.302 trillion.

Samsung Fire & Marine Insurance also announced on the same day that it will sell about 1.09 million shares, worth approximately KRW 227.5 billion.

The decision is aimed at addressing a potential increase in their ownership ratios following Samsung Electronics’ planned cancellation of treasury shares.

Earlier, Samsung Electronics stated in its annual report that it intends to retire 73.36 million common shares within the first half of this year.

 

 

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)