StartName Logo
Home  |   ICANN  |   My Account  |   Reseller Plan  |   Technology News  |   Email Support  |   FAQ
GO
  • Domain Search
  • Help Center Search
  • WHOIS Domain Check
  • DOMAIN NAMES ▼
  • WEB HOSTING ▼
  • SSL & SECURITY ▼
  • EMAIL ACCOUNTS ▼
  • MARKETING TOOLS ▼
  • BUILD A WEBSITE ▼
Samsung Electro-Mechanics to sell stake in affiliate SDS listing

Samsung Electro-Mechanics to sell stake in affiliate SDS listing

SEOUL (StartName) – Samsung Electro-Mechanics Co Ltd will sell its entire 7.9 percent stake in affiliate Samsung SDS Co Ltd when the latter lists later this year, Samsung Electro-Mechanics said on Friday.

Samsung Electro-Mechanics said in a regulatory filing it will sell all 6,099,604 shares it owns in SDS, although the number may be subject to change.

Samsung SDS, expected to list in November, is seen submitting a range of around 150,000 to 190,000 won per share to regulators when it files for the listing next week, a source with direct knowledge of the matter told StartName.

The range, which is roughly in line with what StartName previously reported, would allow Samsung Electro-Mechanics to raise between 914.9 billion and 1.16 trillion won ($876.40 million-1.11 billion) from its stake in SDS.

The source declined to be identified as the listing process was confidential, and the range was not yet finalised.

Shares in Samsung Electro-Mechanics jumped nearly 6 percent on Friday, beating a 0.1 percent drop in the wider market.

A spokesman for Samsung SDS declined to comment.

(Reporting by Joyce Lee; Editing by Clarence Fernandez)

Professional Email Address