Senior Lee’s requests may have to pay a total of $ 8.85 billion in inheritance tax. Companies can increase the dividend payout, so that the requests have enough funds to pay inheritance tax.
Shares of several Samsung Group companies rose on Monday. These companies are believed to be able to increase the dividend payout, so that the heirs of the late Samsung chief will have sufficient funds to pay record high inheritance tax. Samsung Group Chief Lee Kun-hee died on Sunday at the age of 78.
Morning session saw a surge in shares of the three companies of the group. Investors are betting that after the death of Senior Lee, there will be a massive change in the governance structure of these companies and that Lee Jae-yong, the only son of Senior Lee, will strengthen his hold on South Korea’s largest business group. According to sources, Senior Lee’s requests may have to pay a total of $ 8.85 billion in inheritance tax.
Shares of holding company Samsung C&T jumped 14.42%
Technology company Samsung Electronics saw a 0.17 percent jump in shares. C&T, considered to be the holding company of Samsung Group, saw a 14.42 percent jump. Samsung Life Insurance, which holds a stake in Samsung Electronics, saw a 6.66 percent jump.
4.18% stake of late chairman in Samsung Electronics
The late chairman held 4.18 per cent stake in Samsung Electronics, 2.86 per cent in Samsung C&T and 20.76 per cent in Samsung Life Insurance at the end of June. The total value of his stock holdings in various companies is estimated to be around 18 lakh crore won. Jay-Yong, the group’s defacto chief, holds 0.7 per cent in Samsung Electronics, 17.33 per cent in Samsung C&T and more in various other companies. The total value of his stock holdings is 7.1 lakh crore won.