Samsung secures 3 trillion won funds by selling 0.9% stake in ASML

According to hankyung report, Samsung sold a portion of its stake in ASML, a Netherlands-based semiconductor equipment company, after seven years. By selling a 0.9% stake in ASML, Samsung secured a whopping 3 trillion won in funds.

It’s likely to secure investment costs for semiconductor production lines being built in Pyeongtaek, Gyeonggi Province, and Taylor, Texas, USA. The company has reportedly started ‘super-gap betting’ in preparation for the semiconductor industry’s rebound that will begin in earnest at the end of this year.

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Per Samsung’s half-year report, ASML stocks decreased by 3,547,715 shares from 6,297,787 shares (1.6% stake) at the end of March to 2,750,72 shares (0.7%) at the end of the second quarter. The value of the stake decreased from 5.597 trillion won to 2.601 trillion won over the same period.

The South Korean tech giant expanding investments to strengthen future competitiveness despite the global economic slowdown. A typical example is the pouring of 23,247.3 billion won, the largest ever, into the semiconductor business in the first half of this year.

Source | Via – Tech_Reve