Share prices opened 380,000 won, double its IPO price, but plunged 13.84 percent to close at 327,000 won
Samsung SDS headquarters building (Photo:Samsung SDS)
Samsung SDS made a landmark listing on the Korean bourse on Nov. 14, becoming the largest initial public offering (IPO) since the listing of Samsung Life Insurance in 2010. Samsung SDS shares traded 380,000 won after the opening bell sounded, double the company¡¯s IPO price of 190,000 won. By the end of the trading day, however, it dropped 13.84 percent to close at 327,000 won. The company¡¯s IPO capitalization stood at 29 trillion won.
Some analysts forecast that the stock price might rise as high as 500,000 won in the mid- to long-term, taking into account ample cash for the ailing Samsung Group Chairman Lee Kun-hee¡¯s children¡¯s smooth generational succession.
Samsung Electronics Vice Chairman Lee Jae-yong, Samsung Group Chairman Lee's son, holds an 11.25 percent stake, while his daughters Lee Boo-jin and Lee Seo-hyun each hold 3.9 percent. The total stake value of the three children¡¯s stock stakes exceeded 5 trillion won.
Total transactions reached 1.336 trillion won, beating Samsung Life Insurance, which totaled 1.1 trillion won on its first day of trading on May 12, 2010.
Lee Kun-hee tops the list of stockholders, with 11.65 trillion won, up two notches from the previous ranking, followed by AmorePacific Group Chairman Suh Kyung-bae¡¯s 6.47 trillion and Hyundai Motor Group Chairman Chung Mong-koo¡¯s 5.93 trillion won, according to Chaebul.com.
Samsung SDS CEO Jun Dong-soo stressed the importance of corporate social responsibility, saying that Samsung SDS shareholders will be properly rewarded. He also emphasized the company¡¯s strength overseas.
President Jun Honored with Order of Industrial Service, Gold Tower Medal
Samsung SDS CEO Jun Dong-soo
Samsung SDS President Jun Dong-soo received the coveted Order of Industrial Service, Gold Tower in recognition for his contribution to the development of the world¡¯s first 3D vertical NAND Flash Memory (3D V-NAND) at the Semiconductor Day anniversary event in Yeouido, Seoul, on Oct. 23.
He is the first winner of the order since Semiconductor Day was inaugurated.
Over the past 15 years, NAND Flash memory cell structures have gone from 120nm scale to 19nm scale. Along with this drastic miniaturization, their capacity has grown by 100 times.
Just how is Samsung V-NAND Flash memory able to offer 100 times the capacity in only 1/10th the area? That's where the V in V-NAND comes in, as Samsung stacks the cells vertically.
Jun served as president of Samsung Electronics Digital Solutions Division before he was appointed to be Samsung SDS president earlier this year. He has been credited with the commercialization of the 3D V-NAND and his role in the company maintaining the global No. 1 position in the memory chip sector.
Samsung's three-dimensional Vertical NAND Flash memory (3D V-NAND) breaks free of the scaling limit for existing NAND Flash technology. Samsung has developed a new structure through its first 24-layer V-NAND
Some 500 people from industry, academia and government circles attended the anniversary event hosted by the Korea Semiconductor Industry Association (KSIA) at the Convention Center of 63 City. Also participating in the event were Minister of Trade, Industry and Energy Yoon Sang-jick; Rep. Lee Hyun-jae, Rep. Noh Young-min of the National Assembly¡¯s Trade, Industry and Energy Committee; KSIA Chairman Kim Ki-nam, concurrently Samsung Electronics president; SK Hynix President Park Sung-wook; and President Lee Young-soo of Korea Institute of Industrial Technology.