Samsung Electro-Mechanics Co Ltd is set to raise up to 1.16 trillion won ($1.1 billion) by selling via the stock exchange in November its entire stake in affiliate Samsung SDS, the IT services unit of Samsung Group.

In a regulatory filing on Tuesday, SDS said Samsung Electro-Mechanic planned to sell 6,099,604 shares - equivalent to its entire 7.9 percent stake - at between 150,000 won and 190,000 won each and in line with figures Reuters had previously reported.

SDS also said its other shareholders, Samsung Electronics Co Ltd and the three children of Samsung Electronics Chairman Lee Kun-hee, would not be selling their holdings.

The price per share values SDS at between 11.6 trillion and 14.7 trillion won ($11 billion to $14 billion).

Goldman Sachs, Korea Investment & Securities and JPMorgan are advising Samsung SDS on the deal.