On news that Hong Ra-hee, honorary director of the Leeum Museum of Art, will donate her entire Samsung C&T equity to Samsung Electronics Chairman Lee Jae-yong, Samsung C&T shares were strong early on the 3rd.
As of 9:29 a.m., Samsung C&T was trading at 240,500 won, up 16,000 won (7.13%) from the previous session. It rose as high as 242,000 won intraday, hitting a 1-year high.
After the regular session closed the previous day, Samsung C&T disclosed that Hong, the honorary director and wife of the late former Samsung Chairman Lee Kun-hee, will donate all Samsung C&T shares she holds to the eldest son, Chairman Lee. The donation date is Jan. 2 next year.
The shares to be donated total 1,808,577, representing 1.06% by equity ratio. After the donation, Chairman Lee's equity ratio will increase to 20.99%.
Samsung C&T sits at the top of Samsung's governance structure, and Chairman Lee is the largest shareholder of Samsung C&T. With this large-scale donation, buying interest is seen flowing in on expectations that governance risks will ease, controlling shareholder accountability will be strengthened, and shareholder return measures may emerge.