Samsung SDS strong debut frees cash for Lee’s successors

Samsung SDS became the 5th most valuable company on the South Korean bourse with a market capitalisation of about US26bil as of yesterday’s opening.

SEOUL: Shares in Samsung SDS Co Ltd, the IT services arm of the Samsung Group, doubled on debut, unlocking US$5bil for the conglomerate’s three heirs as they plan a generational succession at South Korea’s dominant conglomerate.

SDS is 19.05% owned by the three children of Samsung Electronics Co Ltd chairman Lee Kun-hee, 72, who has been hospitalised since suffering a heart attack in May.