Samsung Electronics family to sell $1.2 billion stake amid share rally
The mother and two sisters of Samsung Electronics Chairman Jay Y. Lee plan to sell about 1.73 trillion won ($1.22 billion) worth of shares, or 0.3% of the company, the firm said in a regulatory filing. The sale will cover tax payments and loan repayments following the 2020 death of Samsung patriarch Lee Kun-hee.
The shares, totaling 17.7 million, will be handled by Shinhan Bank under a trust contract and are expected to be sold by next April. Experts note the sale is part of the family’s effort to secure funds for inheritance taxes, estimated at around 12 trillion won, News.Az reports, citing Reuters.
Samsung’s stock has jumped over 48% since a chip-supply deal with Tesla in July, with additional deals for high-bandwidth memory products with Nvidia and OpenAI boosting investor expectations. The stock is up 84% year-to-date, nearing 100,000 won, making the timing of the sale potentially sensitive for retail investors.
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