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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] IMM Credit & Solution (ICS) has sold its entire stake in Samsung Life Insurance.
According to investment industry sources on the 26th, ICS recently sold all its shares in Samsung Life Insurance through the Long-Term Solution Fund. The stake sold was approximately 1%, with the shares reportedly sold at around 90,000 won each.
ICS acquired the Samsung Life Insurance shares in early 2022. At that time, the shares were put up for sale by Lee Seo-hyun, chairperson of the Samsung Welfare Foundation, to cover inheritance tax. ICS purchased the shares at around 60,000 won per share, with a total investment of approximately 120 billion won.
The reason for ICS's investment was the increase in Samsung Life Insurance's stock price due to the government’s corporate value-up program. The stock price, which was between 60,000 and 70,000 won, rose to around 90,000 won thanks to the program.
ICS's estimated return on investment is about 180 billion won, achieving approximately 1.5 times the original investment amount in two and a half years.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
