Shares of tech giant Samsung Electronics
closed at 1.691 million won (US$ 1,520), up 4.45 percent from the previous day, buoyed by Elliott Management’s demand for the company’s separation into holding and operating companies and higher dividend payout.
The opening share price was 1.696 million won, up nearly 5 percent from the previous day.
Paul Singer, founder of Elliott Management
Elliott’s subsidiaries Blake Capital and Potter Capital demanded that Samsung Electronics be divided into a holdings company, and a company for conducting its businesses. They also demanded that the two companies be listed on NASDAQ, and to pay out dividends of 30 trillion won.
By Choi He-suk (email@example.com