Samsung Electronics family to sell $1.2 billion stake amid share rally
The mother and two sisters of Samsung Electronics Chairman Jay Y. Lee plan to sell some 1.73 trillion won ($1.22 billion) worth of shares in the South Korean tech firm, the company said in a regulatory filing.
The purpose of the sale of 17.7 million shares, or a 0.3% stake in Samsung Electronics, is to cover tax payments and loan repayment, according to the late Friday filing with the Korea Exchange.
