Hong Ra-hee, the wife of the late Samsung Chairman Lee Kun-hee, is selling her shares for inheritance-tax purposes, the people said, asking not to be named because they weren’t authorised to speak publicly.
A regulatory filing in January showed that Hong was looking to dispose of 15 million shares for tax and loan repayment. A Samsung Electronics representative declined to comment.
Earlier terms of the deal seen by Bloomberg News showed a seller offering 15 million shares at 204,395 won to 208,605 won each. The price range represents a discount of 0.9% to 2.9% to Samsung’s closing price of 210,500 won on Wednesday. The seller is also conducting a sale of 206,633 preferred shares, amounting to roughly $19 million, according to the terms.
Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Shinhan Securities Co. and UBS Group AG are joint bookrunners, the terms show.
South Korea has steep inheritance taxes on controlling shareholders of firms like Samsung Electronics, delivering a financial hit to many of the nation’s richest families. Samsung’s Lee died in 2020 at 78, leaving family members with one of the largest-ever inheritance bills in the country.
