- Palliser Capital wants Samsung Electronics to list shares in the US and use the proceeds to buy back preferred stock, citing the need to narrow the discount on non-voting preferred shares.
- Palliser founder and CIO James Smith made the request at the Sohn San Francisco Investment Conference, according to the firm's press release.
- The proposal calls for American depositary receipts issued at a premium, with proceeds funding additional preferred-share repurchases and cancellations.
- The source does not provide a dated primary filing or company response, so the event date is not verified.
Quotes
“Samsung should issue American depositary receipts at a premium and use the proceeds to fund additional preferred-share repurchases and cancellations”