Samsung C&T beats deadline with block sale

Samsung SDI offloads a total of 5 million Samsung C&T shares through a three-way sale, just meeting a deadline from the Fair Trade Commission.

Samsung SDI, the battery and panel-making unit of Korea’s biggest conglomerate, completed the partial sale of its shareholding in Samsung CT on Thursday as Samsung Group responded to calls from the antitrust regulator to unwind the circular ownership structure of its public-listed affiliates.

Shortly after the market close, Samsung SDI launched the sale of a 1.95% stake in Samsung CT through joint bookrunners Citigroup and Credit Suisse. A total of 3.7 million Samsung CT shares were offered for sale at an indicative price range of W148,410 to W153,000 per share, representing a discount range of 0% to 3% to the stock’s Thursday close.

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