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Trading in Samsung Electronics to be halted for three days before stock split: Korea Exchange

Reuters  |  SEOUL 

(Reuters) - South Korea's stock exchange said on Monday that trading in Electronics Co Ltd's shares will be halted for three days before the stock is split.

Electronics, Asia's fourth most valuable stock as of Monday, announced a 50:1 stock split in January, in a move that will make it easier for to hold shares.

The said the exact dates of the trading halt will be announced by Electronics. previously said in a regulatory filing that the newly split shares are expected to be listed on May 16.

The exchange said in a statement that the trade halt, meant for procedures like and submission of old shares, is shorter than the recent average of about 15 trading days to minimise the impact to investors' liquidity.

Electronics accounted for around 20 percent of the main index's market capitalisation as of Monday.

(Reporting by and Dahee Kim; Editing by Subhranshu Sahu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 13:46 IST