Starting on Friday, Samsung Electronics’ shares will be traded at around 50,000 won as the face value of the company’s shares will be lowered from the current 5,000 won to 100 won with the stock split.
According to the country’s bourse operator Korea Exchange on Sunday, trading of shares in the South Korean tech giant will be suspended for three business days starting from Monday, except for Tuesday when the local stock market is closed in observance of Labor Day.
Trading will resume on Friday, and the tech behemoth’s shares will start at 53,000 won given that they were trading at 2.65 million won in Friday’s closing. Large-cap stocks of Samsung Electronics, which had been traded at over 2 million won, are expected to become more accessible to ordinary retail investors. Expecting the positive effects of the stock split, individual investors bought Samsung Electronics’ shares worth over 1 trillion won last week alone (from April 23 to April 27).
Sung-Min Park email@example.com