Block Deal of Samsung Electronics Shares Worth 1.3 Trillion Won... Hong Ra-hee's 0.33% Stake

[Asia Economy Reporter Park So-yeon] KB Kookmin Bank has sold Samsung Electronics shares worth 1.3 trillion won. The industry interprets this as a source of funds for the Samsung Group owner family's inheritance tax payment.

According to the investment banking (IB) industry on the 24th, KB Bank conducted a block deal (large-scale off-hours trading) targeting institutional investors for 19,941,860 shares of Samsung Electronics held as of the previous day. This volume corresponds to 0.33% of Samsung Electronics shares, worth 1.372 trillion won.

Last September, former Leeum Museum Director Hong Ra-hee signed a trust contract with KB Securities for the sale of 0.33% of Samsung Electronics shares, and it is reported that these shares were sold.

The per-share sale price of former Director Hong's shares was set at 68,800 won, a 2.4% discount from the previous day's closing price (70,500 won). The block deal was underwritten by KB Securities, Goldman Sachs, and JP Morgan.

On the 22nd, Lee Boo-jin, President of Hotel Shilla, and Lee Seo-hyun, Director of Samsung Welfare Foundation, each sold 3,018,860 shares (3.9%) of Samsung SDS through a block deal, raising approximately 190 billion won in cash.

Since the passing of Samsung Electronics Chairman Lee Kun-hee in October 2020, the Samsung owner family inherited stock assets worth about 25 trillion won and paid approximately 12 trillion won in inheritance tax.

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