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    HomeNewsBusinessSamsung Elec has more than halved its stake in ASML, filings show

    Samsung Elec has more than halved its stake in ASML, filings show

    Samsung is expected to spend the proceeds on new memory chip production lines, local media reported on Wednesday.

    Reuters
    August 16, 2023 / 18:04 IST
    The stake that Samsung sold is worth around 2.1 billion euros ($2.29 billion) based on the latest share prices.

    South Korea’s Samsung Electronics has reduced its stake in semiconductor manufacturing equipment maker ASML by more than a half, its recent filings showed.

    Samsung held 2.75 million shares in the Dutch company as of end-June, the South Korean tech giant said in its semi-annual report, down from 6.3 million shares in its first quarter report.

    The stake that Samsung sold is worth around 2.1 billion euros ($2.29 billion) based on the latest share prices.

    Samsung is expected to spend the proceeds on new memory chip production lines, local media reported on Wednesday. A Samsung Elec spokesperson confirmed the stake sale but did not elaborate.

    ($1 = 0.9161 euros)

    Reuters
    first published: Aug 16, 2023 06:04 pm

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