Palliser Pushes Samsung to Buy Back Discounted Preferred Shares

Activist fund Palliser Capital is urging Samsung Electronics and Hyundai Motor to buy back and retire undervalued preferred shares. Korean preferred shares trade at an average 46% discount, with Samsung's at about 26% and Hyundai's at 48%.

• Palliser pegs Korea's discounted preferred shares at 86 trillion won (~$64.24 billion)
• Average discount of Korea's 30 largest preferred classes is 46% vs about 5% in developed markets
• Samsung is urged to target narrowing the preferred discount to around 10% in its 2027-2029 plan
• Hyundai is asked to direct most of its up to 4 trillion won buyback for 2025-2027 to preferred shares