IPO Effects
Chaebul.com announced on Sept. 17 that the listed shares of Samsung Electronics Vice Chairman Lee Jae-yong, including those of Samsung SDS traded on the K-OTC market, totaled 3.5987 trillion won (US$3.4546 billion) in appraised value as of the end of the preceding day. The amount is divided into 1.0135 trillion won (US$971.85 million) in Samsung Electronics and 2.5852 trillion won (US$2.4817 billion) in Samsung SDS, where his share ratio is 11.25 percent.
On Sept. 16, the Samsung SDS share price closed at 297,000 won (US$285) on the K-OTC market. The price almost doubled compared to when the listing plan was announced.
At present, the vice chairman ranks 18th on the listed stock value list. However, his ranking rises to 5th when the over-the-counter price of Samsung SDS shares is counted. SK Group Chairman Choi Tae-won takes 6th place with 3.4196 trillion won (US$3.2818 billion) and Hyundai Motor Group Vice Chairman Chung Eui-sun 4th with 3.9566 trillion won (US$3.7982 billion).
Mr. Lee Jae-yong may surpass the Hyundai Motor Group vice chairman if the value of Cheil Industries, which is scheduled to be listed in December this year, is taken into account. He is in possession of 25.1 percent of the company. In the meantime, the Samsung Group has recently decided to advance the listing of Samsung SDS and Cheil Industries by one month each to November and December.