Samsung Electronics Chairman Lee Jae-yong will purchase approximately 1.9 trillion won ($1.4 billion) in company shares from his mother, Hong Ra-hee. The off-market transaction is scheduled for October. It will increase Lee's stake in Samsung Electronics from 1.47% to 1.58%.
The share sale will help Hong Ra-hee repay loans taken to cover a multi-billion dollar inheritance tax bill. This tax bill followed the 2020 death of former Chairman Lee Kun-hee. Analysts noted the deal's off-market structure avoids influencing Samsung's stock price. Top retail traders reportedly bought Samsung Electronics shares on the day of the news, citing valuation attractiveness compared to peers.