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[THE INVESTOR] Samsung SDS’ share price has been steadily recovering from its lowest point in June.
Since June 27 when the company’s share reached a record low of 132,000 won (US$119.60), the stock price increased 33.3 percent to close at 176,000 won on Aug. 12.
The increase was partly thanks to the influx of foreign investment and the improved sentiment of investors, many of whom were disgruntled about the firm’s split-off plan of its businesses, according to market watchers.
After the Samsung Group affiliate announced its plan to divide its businesses into two -- IT services and logistics solutions divisions -- in June, it has faced a backlash from its minority investors who fiercely opposed the move.
The investors argued that the split would only benefit the top management of Samsung Group, especially Vice Chairman Lee Jae-yong who they claimed will be able to strengthen his grip on the conglomerate through the split-off and the merger between the logistics division and Samsung C&T. the de facto holding company of Samsung Group.
Lee is the largest shareholder of Samsung C&T with a 17.2 percent stake.
By Kim Young-won (wone0102@heraldcorp.com)
Since June 27 when the company’s share reached a record low of 132,000 won (US$119.60), the stock price increased 33.3 percent to close at 176,000 won on Aug. 12.
The increase was partly thanks to the influx of foreign investment and the improved sentiment of investors, many of whom were disgruntled about the firm’s split-off plan of its businesses, according to market watchers.
After the Samsung Group affiliate announced its plan to divide its businesses into two -- IT services and logistics solutions divisions -- in June, it has faced a backlash from its minority investors who fiercely opposed the move.
The investors argued that the split would only benefit the top management of Samsung Group, especially Vice Chairman Lee Jae-yong who they claimed will be able to strengthen his grip on the conglomerate through the split-off and the merger between the logistics division and Samsung C&T. the de facto holding company of Samsung Group.
Lee is the largest shareholder of Samsung C&T with a 17.2 percent stake.
By Kim Young-won (wone0102@heraldcorp.com)
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
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