Samsung Electronics Sold Part of ASML Stake: Getting about 3 Trillion Won
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Update time : 2023-08-17 11:08:25
Samsung Electronics has decided to sell a portion of its stake in Dutch semiconductor equipment maker ASML after holding it for seven years, sources said. The move has been interpreted as an effort to raise funds for investment, especially with the company's operating profit close to a loss this year.
According to Samsung Electronics' semi-annual report released on August 15, the company's stake in ASML decreased by 3,547,715 shares from 6,297,787 shares in the first quarter to 2,750,007,200 shares in the second quarter. As a result, Samsung Electronics' stake in ASML fell from 1.6% to 0.7%. The book value (market value) of the shares fell from about 5.59 trillion won to 2.6 trillion won.
Samsung Electronics sold some of its ASML shares in the second quarter. Considering the recent share price of ASML, it is estimated that Samsung gained about 3 trillion won from this sale.
In addition, during the second quarter, Samsung Electronics divested 2.38 million shares (0.1%) of Chinese electric car maker BYD and 1.544 million shares of South Korean integrated equipment company SFA, potentially gaining about 150 billion won in investment power.
To establish a strategic partnership with ASML, the world's only manufacturer of extreme ultraviolet (EUV) lithography equipment, Samsung Electronics acquired a 3.0% stake (12,595,575,000 shares) in ASML in 2012 for KRW 36.3 billion. By the third quarter of 2016, Samsung Electronics had sold about half of its stake, about 1.4%, worth 750 billion won.
In terms of return on investment, Samsung Electronics made a fortune. The sale of shares alone yielded a profit equivalent to nearly ten times the initial investment in 2012.
The share sale is seen as Samsung's move to raise funds for semiconductor investments, as it continues to increase investments to enhance future competitiveness despite the global economic slowdown, as evidenced by the record 23.2473 trillion won it invested in its semiconductor business in the first half of this year.
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