Samsung Electronics denies report that it is exploring US listing
The chipmaker is reportedly in the early stages of exploring a potential US offering of American depositary receipts
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[BENGALURU/ SEOUL] Samsung Electronics denied on Tuesday (Jul 14) a report that it was in the early stages of exploring a potential US offering of American depositary receipts (ADRs).
“Samsung Electronics is not reviewing the possibility of issuing ADRs,” a Samsung spokesperson said in a statement.
On Tuesday, Bloomberg News reported that Samsung has held preliminary discussions with banks, but has not yet made a decision about whether to proceed, citing people familiar with the matter, adding that the discussions might not result in a listing.
The South Korean chipmaker previously reviewed the possibility of an ADR offering before ultimately deciding against it, though the successful US listing of SK Hynix has given Samsung fresh motivation to revisit the idea, the report said.
Last week, rival SK Hynix priced its ADRs at US$149 each, raising about US$26.5 billion in the largest-ever US listing by a foreign company. REUTERS
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