Samsung Electro-Mechanics secured 100 billion won by selling all of its shares in SoluM

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

Kim Jisun Reporter

stockmk2020@alphabiz.co.kr | 2023-03-28 04:13:44

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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung Electro-Mechanics sold all of its shares in SoluM to secure liquidity and secured 100 billion won.

According to the industry on the 27th, Samsung Electro-Mechanics sold 4.65 million shares (9.3% stake) of its entire SoluM shares on the 24th through an overtime trading (block dick) method.

SoluM was established in September 2015 by spin-offing Samsung Electro-Mechanics' power module business, tuner business and electronic price indicator business. Samsung Electro-Mechanics was the second largest shareholder of SoluM by the end of last year.

The discount rate for this block deal is said to be 8∼9%. The block deal is interpreted as a way for Samsung Electro-Mechanics to clean up its non-mainstream business amid growing economic uncertainties and secure cash.