Samsung Electronics Chairman Jay Y. Lee’s mother and sisters plan to sell $1.22 billion worth of shares to cover tax payments and loan repayment. The sale of 17.7 million shares, representing a 0.3% stake, will help pay an estimated 12 trillion won inheritance tax following the death of Samsung patriarch Lee Kun-hee. The stock sale is expected to be completed by April through Shinhan Bank. Samsung’s shares have surged 48% since securing supply deals with Tesla and OpenAI, with expectations to supply high-bandwidth memory products to Nvidia. The stock is up 84% this year, nearing 100,000 won.

Read more at Yahoo Finance: Samsung Electronics family to sell $1.2 billion stake amid share rally