Samsung Electronics denied on Tuesday a report that it was in the early stages of exploring a potential U.S. 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.Also Read: AstraZeneca to license lung cancer drug from China's Dizal PharmaceuticalOn 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 U.S. listing of SK Hynix has given Samsung fresh motivation to revisit the idea, the report said.Also Read: DP World Plans UAE East Coast Port to Bypass Strait of HormuzLast week, rival SK Hynix priced its ADRs at $149 each, raising about $26.5 billion in the largest-ever U.S. listing by a foreign company.
Samsung Electronics denies report that it is exploring US listing
Samsung Electronics denied exploring a U.S. listing of American Depositary Receipts. Bloomberg News had reported preliminary discussions with banks about a potential offering. The South Korean chipmaker previously considered and rejected a similar U.S. listing. Rival SK Hynix recently completed a successful and large U.S. ADR offering. Samsung is not currently reviewing the possibility of issuing American Depositary Receipts.
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