SEOUL, Aug 20 (Reuters) - Companies of Samsung Group [SAGR.UL] are willing to participate in a possible rights offering by Renault SA's South Korean auto affiliate, a group official said on Tuesday.
Samsung Electronics , South Korea's largest company, holds controlling stakes in two Samsung Group firms invested in Renault Samsung Motors Inc.
South Korea's smallest automaker is considering a rights issue for funds needed to double output capacity to 500,000 vehicles a year by 2005, the Korea Economic Daily newspaper reported on Tuesday.
"For now, we have a 19.9 percent stake in Renault Samsung," a Samsung Group official told Reuters by telephone.
Samsung affiliates might buy new shares to maintain their 19.9 percent stake, he said.
"I don't know whether participation in the rights issue would lead to a rise in that stake," he said.
An official at Renault Samsung told Reuters there were no immediate plans to issue new shares.
France's Renault took over Samsung's former auto unit in 2000 and holds a controlling 70.1 percent stake. Banks hold 10 percent.
Samsung Electronics shares were up 3.9 percent versus a main index up 2.94 percent as of 0301 GMT. (Reporting by Lee Shin-hyung and Lee Chang-ho)