Samsung Corning has raised its stake in electronic component maker Shenzhen SEG Samsung Glass Co. (Q.SSK) to 35%, equal with the founding partner, according to a statement Monday.
SEG Group, the Shenzhen company's founding shareholder, saw its 49% holding reduced following the transfer of state-owned shares to a unit of Samsung Corning. The transaction was valued at 237.2 million yuan (US$1=CNY8.28), or about CNY2.14 a Shenzhen SEG Samsung Glass share, the statement said.
A number of smaller shareholders also own shares in Shenzhen SEG Samsung Glass. Its class A shares were last quoted on Jan. 29 at CNY8.43.
South Korea's Samsung Group and Corning Inc. (GLW) are equal partners in the Samsung Corning manufacturing operation.