“The owner inherits, but the ants cry”… 60,000 electrons again in a block deal bomb

picture explanation[사진 출처 = 연합뉴스]

“What’s going on? Who the hell sold so many stocks? It’s the first time I’ve seen anything like this because I’m a beginner investor.”

A scream erupted from among the three war ants. This is because a block deal approaching 20 million shares was in progress. There are hardly any major shareholders with such a large amount of stock. Investors soon found the protagonist of the block deal. It was Hong Ra-hee, former director of Leeum Museum of Art.

5 million minority shareholders are suffering as the Samsung family is selling their stake on the grounds of paying inheritance tax. This is because the share price has hardly risen due to the block deal issue in a situation where the share price has been sluggish due to global logistics difficulties and geopolitical risks.

According to the Korea Exchange on the 27th, Samsung Electronics finished trading at 69,800 won per share as of the 25th, the same as the day before. The share price, which once maintained the 70,000 won level, has fallen again to the 60,000 won range. The gap with the average target price of securities companies (90,000 won) has also widened.

As a result, individual investors who have fully supported Samsung Electronics by net buying more than 5.4 trillion won this year are unable to hide their disappointment. In the online stock community, “Why now?”, “Knowing all the bad things”, “I’m glad I didn’t fall today”, “It’s time to buy, so load your bullets”, “Please let me do it,” “But Samsung It is the former, but it will rise someday.”

KB Kookmin Bank disposed of 1,941,860 shares of Samsung Electronics in a block deal after regular trading hours in the stock market on the 23rd. The sale price was set at 68,800 won by applying a discount rate of 2.4% to the closing price of the previous day (70,500 won). It is worth about 1.372 trillion won. In fact, it was planned. After the death of Samsung Group Chairman Lee Kun-hee in October of last year, former manager Hong Ra-hee, who became the heir, signed a trust contract to sell his stock to raise inheritance tax.

The same is true for Samsung SDS minority shareholders. Shares of Samsung SDS have fallen more than 7.77% this week. On the 22nd, Hotel Shilla President Lee Boo-jin and Samsung Welfare Foundation Chairman Lee Seo-hyun agreed to a block deal for a total of 3,018,860 shares of Samsung SDS, 1,59,430 shares each, in a block deal amounting to 190 billion won. Chairman Lee Seo-hyun also sold 3,459,940 shares of Samsung Life Insurance in December last year to secure funds for inheritance tax.

Last year, the Samsung family applied for arrears of inheritance tax with the Yongsan Tax Office. Inheritance tax arrears is a system in which one-sixth of the total inheritance tax is paid first, and the remaining inheritance tax is paid in installments over five years. Accordingly, the payment in installments will start in five installments starting from the following month. The inheritance tax the Samsung family has to pay is said to be around 12 trillion won. Among them, the stock inheritance tax is estimated at 11 trillion won. It is calculated that 2 trillion won should be secured every year until 2026. Inheritance tax for each individual is estimated at 3.1 trillion won for former manager Hong Ra-hee, 2.9 trillion won for Vice Chairman Lee Jae-yong, 2.6 trillion won for President Lee Boo-jin, and 2.4 trillion won for Chairman Lee Seo-hyun.

However, the stock market is diagnosing that Samsung Electronics will be able to recover from the decline soon as there is no problem with the fundamentals of Samsung Electronics. This year, Samsung Electronics’ sales and operating profit are expected to reach 315 trillion won and 59.5 trillion won, respectively, and the expectation that it will show a shareholder-friendly stance such as an increase in dividends can raise the stock price.

Do-yeon Choi, a researcher at Shinhan Investment Corp., said, “The current share price reflects both the discount rate and concerns about non-memory competitiveness. It will rebound quickly.”

[이가람 매경닷컴 기자]
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