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[Newsmaker] Samsung's share price to rank far lower after stock split

By Yonhap

Published : Feb. 2, 2018 - 09:39

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The share price of top-cap Samsung Electronics Co. would rank much lower after its stock split is completed, data showed Friday.

On the heels of record 2017 earnings driven by strong demand for chips, Samsung's board of directors Wednesday announced a dramatic 50:1 stock split aimed at enhancing shareholders' value and making the tech giant more accessible to investors.

The decision -- if endorsed at the company's annual shareholders' meeting on March 23 -- would cut the face value of Samsung from 5,000 won ($4.70) to 100 won, dramatically increasing the number of common shares to more than 6.41 billion from the current 128.3 million.

The Samsung Group`s Seocho office building stands in Seoul, South Korea. (Yonhap) The Samsung Group`s Seocho office building stands in Seoul, South Korea. (Yonhap)

According to the Korea Exchange, Samsung's share price finished at 2.491 million won Thursday, meaning the price would be 49,820 won after the stock split.

That would be the 278th-highest share price among companies traded on the main KOSPI, secondary KOSDAQ and tertiary KONEX markets.

Samsung's share price would rank 215th on the main bourse, 59th on the tech-heavy secondary market and sixth on the KONEX market.

Meanwhile, Samsung's conversion price, which factors in its face value, currently ranks 10th among companies traded on the local stock market. Samsung's conversion price is the same as its current stock price Thursday.

In terms of the conversion price, Naver, the operator of the country's top Internet portal, ranked first with 9.23 million won, followed by Netmarble Games with 8.675 million won and SK with 7.963 million won.

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