[Special Stock] Samsung SDS Plummets 7% on Owner Family Block Deal News

[Asia Economy Reporter Ji Yeon-jin] Samsung SDS is experiencing a sharp decline on the 22nd following news of a block deal involving the owner family.

As of 10:37 AM on the same day, Samsung SDS was trading at 130,000 KRW, down 7.14% (1,000 KRW) compared to the previous day.

This sharp drop appears to be due to the news that Samsung SDS shares were put up for a block deal. According to the investment industry, Kookmin Bank, together with joint lead manager Morgan Stanley, began a block deal process for 3,018,860 shares of Samsung SDS after the market closed the previous day. The selling price ranges from 127,400 KRW to 129,500 KRW per share, representing a discount of approximately 7.5% to 9% compared to the previous day's closing price of 140,000 KRW.

The block deal shares are estimated to be the holdings of President Lee Boo-jin and Director Lee Seo-hyun. The two owners inherited Samsung Group shares previously held by the late Chairman Lee Kun-hee of Samsung Electronics (70,400 KRW ▲ 500 0.72%) after his passing last year. In October of last year, to prepare for inheritance tax, President Lee Boo-jin entrusted 1,509,430 shares and Director Lee Seo-hyun entrusted 1,509,430 shares, totaling 3,018,860 shares, to Kookmin Bank for sale trust. This matches the volume of shares involved in the current block deal. Since the trust contract was set to expire on April 25, it was a scheduled step for the shares held by the two to be released into the market.

This content was produced with the assistance of AI translation services.