Samsung SDS price recovers on foreign buying

[THE INVESTOR] Samsung SDS’ share price has been steadily recovering from its lowest point in June.

After the company’s share reached a record low of 132,000 won (US$119) on June 27, the price surged 33.3 percent to close at 176,000 won on Aug. 12, on increased buying by foreign investors.

The stock plunged in early June after the company was rumored to sell its logistics business unit to Samsung C&T, the de facto holding company of Samsung Group.

Later the company confirmed the split-off plan but denied the merger with C&T.

Minority shareholders are still resisting the plan that they believe would weaken the company’s competitiveness and reduce the stock value.

By Kim Young-won (wone0102@heraldcorp.com)