[THE INVESTOR] Samsung SDS chief financial officer Park Sung-tae said on June 14 that the company is considering buying back shares and offering dividends in a bid to bolster the firm’s sagging stock prices.
“We are considering repurchasing 1.8 trillion won ($1.5 billion) worth of Samsung SDS stocks,” Park told the company’s minority shareholders who gathered at the firm’s Southern Seoul headquarters.
Yonhap
Share prices of the information and technology arm of Samsung Group have been falling since the firm announced plans on June 6 that it would be splitting off its logistics solution business.
Samsung SDS shares closed at 155,500 won on this day, up (up 2.98 percent) investors were encouraged by the news.
“SDS’ merger attempt with Samsung C&T seems to be in line with the conglomerate’s initiative for corporate restructuring,” said Lee Sang-heon, an analyst from HI Investment & Securities, in his investment report, adding that C&T would be able to play a more core role than before as a de facto holding company of Samsung Group down the road.
(
investor@heraldcorp.com)
