The Samsung division mistakenly distributed shares for $ 105 bn

The subsidiary security division of Samsung Securities turned its employees into   millionaires, according to   sending them an error   of the company's shares on   $ 104.8   billion. The quickest managed to translate everything into   money, and   Here Samsung Securities for a long time will have to deal with   consequences of its error.

How everything was

A   everything began with   of what is   Samsung Securities decided to pay 2018 employees for   thousand won (about $ 0.94) per   each   share. However, someone confused something   - and   lucky people got instead of a thousand won   thousand shares.

Thus, the company released 2.8   billion shares in   the amount of about 111.8 trillion won (about $ 104.8   billion). A   it's in   30 times the value of existing shares.

Who was in time   - the one on   Hawaii

Employees immediately   also warned of   " Annoying " error, and   through 37   minutes the sale of the issued shares was blocked. But   16 people were quick and   behind   just minutes sold about 5   million of securities in   amount about $ 186.9   million

All of them   have already been   work, but it seems their   is not   greatly upset. Also, the culprit of everything that happened happened to be removed.

What are the consequences?

After the incident, the company's shares immediately collapsed   12%. In addition, from   cooperation with   Samsung Securities refused the local National Pension Service   - one of the   largest pension funds in   South Korea.

Source: The Wall Street Journal