Samsung C&T shares are surging early on the 24th. It appears to be due to the rise in the equity value of its holdings in Samsung Electronics and expectations for expanded shareholder returns.
As of 9:43 a.m. that day, Samsung C&T shares were up 12.53% (57,000 won) from the previous trading day at 512,000 won.
The previous day, analysts in the securities industry said the upward trend in Samsung C&T's share price was continuing on expectations of a rise in equity value due to the surge in Samsung Electronics' stock and expanded shareholder returns.
Kim Gi-ryong, a researcher at Mirae Asset Securities, said, "The equity value of Samsung Electronics held by Samsung C&T increased by about 68 trillion won compared with the end of last year."
There was also an explanation that expectations that Samsung C&T's shareholder return policy could be strengthened stemmed from Samsung Electronics. If Samsung Electronics pays a special dividend, there is a possibility it could lead to an increase in Samsung C&T's cash dividends.
Kim said, "Investment points will continue on the back of rising equity value in listed affiliates held including Samsung Electronics, expectations for stronger shareholder returns, and profit and loss improvement based on a diversified portfolio," sharply raising the target price for Samsung C&T from 370,000 won to 680,000 won.