Samsung Electro-Mechanics Sells Entire Stake in SoluM... Secures 100 Billion KRW
Samsung Electro-Mechanics sold its entire stake in SoluM through a block deal (large-volume trading outside regular hours).
According to the investment banking (IB) industry on the 27th, Samsung Electro-Mechanics sold its entire stake in SoluM through a block deal on the 24th.
SoluM is a company established in September 2015 by spinning off Samsung Electro-Mechanics' power module business, tuner business, and electronic price tag business.
Until the end of last year, Samsung Electro-Mechanics was the second-largest shareholder, holding 4.65 million shares of SoluM, accounting for 9.3% of the stake.
The discount rate for this block deal was reported to be 8-9%. Due to the block deal, SoluM's stock price fell by 9.15% on the 24th.
This block deal is interpreted as a plan to streamline non-core businesses and secure cash amid growing macroeconomic uncertainties.
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Samsung Electro-Mechanics secured about 100 billion KRW in liquidity through this stake sale and is expected to invest it in core businesses such as multilayer ceramic capacitors (MLCC).
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