The purchase was made outside of trading hours for 38,200 won (US$33.58) per share. Samsung Securities closed at 35,800 won Oct. 24. With the latest purchase, Samsung Life’s stake in its affiliate rose to 19.16 percent from 11.14 percent.
Samsung Life has explained the move as part of plans for creating more synergy with its affiliates, market watchers say that it may be preparing to become a holdings company for Samsung Group’s finance companies.
By Choi He-suk (firstname.lastname@example.org)