Samsung SDI said on Friday it will sell 13.09 million shares in its affiliate Samsung Display for about $3.21 billion, a move aimed at raising capital for future investments.
The South Korean battery maker will sell the shares at 340,000 won each, valuing the transaction at approximately 4.45 trillion won based on an exchange rate of $1 to 1,385.7900 won. The deal is scheduled to close on August 27, with Samsung Display set to repurchase the shares as treasury stock.
Following the transaction, Samsung SDI will retain a 10.22% stake in Samsung Display, equivalent to 26.77 million shares. The company did not disclose specific allocation plans for the proceeds but stated the funds would support investments in future growth engines.
The final transaction size and valuation may adjust during the repurchase process, Samsung SDI added.
