Samsung Life Insurance Sells 1.73% Stake in Block Deal... Worth 220 Billion KRW
[Asia Economy Reporter Park Sun-mi] Lee Seo-hyun, Chairperson of the Samsung Welfare Foundation, has disposed of Samsung Life Insurance shares worth 220 billion KRW through a block deal (off-hours large-volume trading).
According to the financial industry on the 2nd, KB Kookmin Bank, which had a securities disposal trust contract with Chairperson Lee, sold 1.73% of Samsung Life Insurance shares through a block deal on the 30th of last month. The disposed shares amounted to 3,459,940 shares, with a sale price of 62,500 KRW per share, totaling approximately 218.8 billion KRW. The funds raised from the stock disposal are reported to be used for inheritance tax payments.
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Chairperson Lee's stake in Samsung Life Insurance will decrease from the previous 3.46% to 1.73%.
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