Samsung shareholder to sell stake worth up to $2.1 billion

Investing.com -- A Samsung Electronics Co. shareholder is selling all remaining shares in the company for up to 3.1 trillion won ($2.1 billion) through a block trade, according to deal terms seen by Bloomberg News.

Shinhan Bank Co. is offering 15 million shares at 204,395 won to 208,605 won each. The price range represents a discount of 0.9% to 2.9% to Samsung's closing price of 210,500 won on Wednesday.

The seller is also conducting a sale of 206,633 preferred shares, amounting to roughly $19 million.

Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Shinhan Securities Co. and UBS Group AG are joint bookrunners for the transaction.

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