Samsung bags $1 bn via ASML share sale for chip production
Ik-Hwan Kim and Jeong-Soo Hwang
Nov 14, 2023 (Gmt+09:00)
Samsung's chip manufacturing plant in Pyeongtaek, Gyeonggi Province in South Korea (Courtesy of Samsung) Samsung Electronics Co., the world’s largest memory chipmaker, has divested a 0.3% stake in Dutch chip equipment manufacturer ASML Holdings N.V. for an estimated 1.34 trillion won ($1 billion), according to its third-quarter regulatory report on Tuesday.
Samsung’s ownership in ASML declined from 0.7% at end-June to 0.4% at end-September, dropping its holdings' value from 2.6 trillion won to 1.26 trillion won, the report said.
Samsung bought about a 3% stake in ASML in 2012 at 700 billion won for a strategic partnership and has since trimmed its holdings to book gains from the hikes in the Dutch firm’s share price.
Samsung will use the funds to ramp up investments in chip manufacturing, in preparation for the memory upturn, industry insiders said.
Write to Ik-Hwan Kim and Jeong-Soo Hwang at lovepen@hankyung.com Jihyun Kim edited this article.