April 20, 2024

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[THE INVESTOR] Stock trading of Samsung Electronics resumed on the country’s main bourse on May 4 after an unprecedented stock split, its operator said.

After a three-day hiatus, the tech giant re-debuted on the KOSPI market with a fresh face value down from 5,000 won (US$4.64) to 100 won.

Accordingly, while its share price logged on the final day of trading on April 27 was 2,650,000 won, it resumed at 53,000 won.

In early morning trading, the shares are fluctuating between positive and negative terrain. As of 9:30 a.m., it had inched down 0.19 percent to 52,900 won. 

The 50:1 stock split brought up the number of common stocks to more than 6.41 billion from 128.3 million, and pushed up the trading volume to over 5 trillion won as of 9:30 a.m.

Overall, the index fell 0.44 percent, to 2,476.35 in the first 30 minutes of trading.

The unprecedented move came after Samsung’s board of directors earlier this year approved the decision to enhance shareholder value on the heels of robust earnings last year.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)