$500M of shares in Samsung Life Insurance to be sold

|About: Samsung Electronics Co., Ltd. (SSNLF)|By:, SA News Editor

Samsung Life Public Welfare Foundation has announced it will sell approximately $500M of shares in Samsung Life Insurance, about 2.5% of total shares outstanding.

This marks the third large transaction Samsung (SSNLF, SSNGY) has performed in the last month and a half. Previously, Samsung Everland (a Samsung holding company) and Samsung SDS (an IT solutions affiliate) announced plans for IPOs.

Samsung is continuing to do heavy restructuring as its owner the Lee family passes on its various companies to the next generation.