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Samsung clan's stock assets to top 18 tln won

All News 10:52 September 21, 2014

SEOUL, Sept. 21 (Yonhap) -- Samsung Group's head Lee Kun-hee and his family are expected to see the value of their share holdings in the conglomerate break the 18 trillion won (US$17 billion) mark with an upcoming initial public offering (IPO).

The country's biggest conglomerate is preparing to list its IT services affiliate Samsung SDS on the main stock index in November, a move that market watchers assume is closely linked to its management succession plan.

The Lee family's holdings reached 18.15 trillion won as of Friday on the K-OTC market, which tracks share values of unlisted companies, according to the data by Chaebul.com, which compiles data of the country's biggest conglomerates.

The amount includes stock assets held by Lee's wife, Hong Ra-hee; his eldest son, Jae-yong; and his two daughters, Boo-jin and Seo-hyun.

The 18 trillion won breakthrough came as shares of Samsung SDS soared to a record 346,500 won on the over-the-counter trading system, which offers a glimpse of their stock assets when the affiliate is actually listed.

With the Samsung SDS share rise, Lee's stock assets were valued at 10.71 trillion won, followed by his son and de-facto successor Jae-yong at 4.03 trillion won.

His wife, who does not hold a stake in the to-be-listed affiliate, held 1.31 trillion won in stock assets, while his two daughters, who are stock holders of Samsung SDS, owned securities worth 1.04 trillion won each, according to the data.

Samsung has filed for a preliminary examination of Samsung SDS's IPO after first announcing the plan in May. The IPO is expected to generate cash that could be used to fund the children's stake purchases, tax payments and other costs needed to bolster their footing in the Samsung empire.

mil@yna.co.kr
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