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The mother and two sisters of Samsung Electronics (005930.KS) Chairman Jay Y. Lee plan to sell some 1.73 trillion South Korean won ($1.22 billion) worth of shares in the South Korean tech firm, the company said in a regulatory filing.

The purpose of the sale of 17.7 million shares, or a 0.3% stake in Samsung Electronics, is to cover tax payments and loan repayment, according to the late Friday filing with the Korea Exchange.

Experts view the sale by Lee’s sisters Lee Boo-jin and Lee Seo-hyun and his mother, Hong Ra-hee, as part of the owner family’s efforts to secure funds to pay their inheritance tax estimated at about 12 trillion won, following the 2020 death of Samsung patriarch Lee Kun-hee.

The sale will be handled by Shinhan Bank under a trust contract and completed by next April, according to the filing.

Samsung shares have jumped more than 48% since it announced a chip-supply deal with Tesla in July. It has secured supply deals with other major customers such as OpenAI, and expectations have risen that the company will be able to supply its latest high-bandwidth memory products to Nvidia (NVDA.O).

The stock is up more than 84% this year, gaining 0.2% on Friday to 97,900 won.

“Samsung’s 10 trillion won share buyback plan last year was aimed at protecting the stock value, which would help the Samsung family to secure fund for inheritance tax,” said Park Ju-gun, head of corporate analysis firm Leaders Index.

With Samsung’s share price now nearing 100,000 won, the planned sale likely aims to complete inheritance tax payments.

“One disappointing aspect is that the owner family is selling shares at a time like this, which could dampen sentiment among retail investors,” he said.

“After all, Samsung Electronics is practically a ‘national stock’, owned by about 5 million retail shareholders who have been eagerly watching the shares approach the 100,000-won mark after the recent rally.”

KARACHI:

Mari Energies Limited has announced a commercial oil and gas discovery at its Mari Ghazij CF-B1 exploration well in Sindh, according to a material disclosure sent to the Pakistan Stock Exchange (PSX) on Thursday.

The formal announcement, made in compliance with Section 96 Securities Act, 2015, confirms the success of the company’s exploratory campaign. The discovery was made in the Mari Development and Production Lease (D&PL) area.

Section 96 of the Securities Act mandates issuers disclosure of material information to the public, particularly information that could reasonably be expected to affect the price of any securities.

Read: Mari Energies buys 20% stake in Indus-C Block

The company stated that the drilling operation commenced on September 12, 2025, and the well was successfully drilled to a total depth of 1,195 meters into the Sui Upper Limestone (SUL) formation, targeting oil-prone zones within the Ghazij formation.

During initial testing, the well flowed at a rate of 305 barrels of oil per day and 3 Million Standard Cubic Feet per Day (MMSCFD) of natural gas, with a wellhead flowing pressure of 225 pounds per square inch (Psi).

Mari Energies holds a 100% working interest and is the operator of the Mari D&PL, giving it full ownership and control over the production from this discovery.

Earlier this week, Mari Energies acquired a 20% working interest in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PPL), alongside Turkish Petroleum Overseas Company (TPOC).

Read more: Mari to produce 25,000 bpd in UAE

The agreement also included TPOC, a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortakl?g? (TPAO), Türkiye’s national oil company, and Oil & Gas Development Company Limited (OGDCL).

This discovery adds new, domestically produced hydrocarbons to Pakistan’s energy inventory, which is crucial for reducing the costly reliance on energy imports and improving the nation’s energy security.

The company is already a cornerstone of Pakistan’s energy landscape, operating the country’s largest gas field at Dharki Mari and holding the position of the nation’s largest natural gas producer with an approximate 30% market share.