Samsung Electronics denies report that it is exploring US listing

Samsung Electronics denied on Tuesday 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 American Depositary Receipts," 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 American Depositary Receipts at US$149 (HK$1,162.2), raising about US$26.5 billion in the biggest-ever US listing by a foreign company.

Reuters
 

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