Trading in Samsung Electronics Co. Ltd.'s shares will be halted for three days before the electronics giant splits its stock, Reuters reported, citing the Korea Exchange.
The company announced a 50-to-1 split in January after shares rose significantly in 2017, causing concern that a high stock price might discourage potential investors. In a regulatory filing, Samsung said it expects to list the newly split shares May 16.
The securities exchange operator said the trade halt, designed for procedures like data processing and submission of old shares, is shorter than the recent average of about 15 trading days, to lessen the impact to investors' liquidity.
The exact dates of the trading halt will be announced by the technology company, Reuters said.
