May 09, 2014 11:56
Samsung SDS, the IT solutions affiliate of Korea's largest conglomerate Samsung Group, has announced plans to go public this year and expand business to overseas markets.
The firm's CEO said this will mean a new leap forward to secure new growth technology and pioneer communication and health care services in markets abroad.
Currently traded at around US$144 per share in the over-the-counter market, it is estimated that after the public listing the company will be valued at around US$10.8 billion.
With the company's announcement Samsung is expected to speed up work to succeed the group to the children of Samsung's chairman, Lee Kun-hee. Samsung Electronics currently holds the largest share of more than 22 percent of Samsung SDS.
Lee's son Jae-yong holds over 11 percent of the company shares, while daughters Boo-jin and Seo-hyun both have over 3 percent.
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