Samsung Corning Lifts Stake In Shenzhen SEG Samsung Glass

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.

600450 Samsung Corning Lifts Stake In Shenzhen SEG Samsung Glass
Date: 11 February 2003
Source: Yahoo

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