Arab Today, arab today samsung everland seeks ipo to boost group restructuring
Last Updated : GMT 15:59:35
Arab Today, arab today
Arab Today, arab today

Samsung Everland seeks IPO to boost group restructuring

Arab Today, arab today

Arab Today, arab today Samsung Everland seeks IPO to boost group restructuring

Samsung Everland seeks IPO to boost group restructuring
Seoul - AFP

Samsung Everland Inc. said Tuesday it would seek an initial public offering (IPO) next year, spurring moves to restructure the family-run Samsung conglomerate ahead of a generational ownership succession.
The hitherto-unlisted Samsung Everland has a key place in the highly complex system of affiliate cross shareholdings that allow Samsung Electronics chairman Lee Kun-Hee and his family to control the giant group with only a small stake.
Lee's health problems, which saw him hospitalised last month after a heart attack, have galvanised efforts to restructure the conglomerate as the 72-year-old prepares to hand over to his son, Jay Y. Lee.
Everland is a leisure firm with interests ranging from zoos and theme parks to fashion and biotechnology, but also acts as a de facto holding company for the Samsung Group.
As with the other family-run conglomerates -- known as "chaebols" -- that dominate South Kora's economy, Samsung has come under increasing government pressure to unravel its complex cross shareholdings and form holding companies whose ownership is more transparent.
An IPO for Samsung Everland will free up a large amount of capital, with which the family can increase their stakes and strengthen control of the overall group.
"The IPO will bring huge capital gains, especially to the son," economist Kim Sang-Jo at Hansung University in Seoul told AFP.
"With the gains, he will pay off inheritance tax and increase his holdings of other key Samsung subsidiaries," such as Samsung Electronics and the group's trading arm and financial unit.
Jay Y. Lee currently holds a 25.1 percent stake in Samsung Everland, while his two sisters, Lee Boo-Jin, head of Hotel Shilla Co., and Lee Seo-Hyun, head of the fashion division in Samsung Everland, each hold an 8.37 percent stake.
Analysts have estimated the market capitalisation of the company at around 7.0 trillion won (6.8 billion dollars).
"Through the IPO, Samsung Everland aims to ... become a global fashion-and-service firm," the company said in a statement Tuesday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today samsung everland seeks ipo to boost group restructuring Arab Today, arab today samsung everland seeks ipo to boost group restructuring

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today samsung everland seeks ipo to boost group restructuring Arab Today, arab today samsung everland seeks ipo to boost group restructuring

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday