July 14 (Reuters) – Samsung Electronics Co. is in the early stages of exploring a potential offering of American Depositary Receipts (ADRs), Bloomberg News reported on Tuesday, citing people familiar with the matter.
Reuters could not immediately verify the report. Samsung declined to comment.
Samsung has held preliminary discussions with banks, but hasn’t yet made a decision about whether to proceed, the report said adding that the discussions are in the very early stages and may not result in a listing.
The South Korean chipmaker has previously reviewed the possibility of an ADR offering before ultimately deciding against proceeding, 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 $149 raising about $26.5 billion in the biggest-ever US listing by a foreign company.
(Reporting by Devika Nair in Bengaluru; Editing by Sherry Jacob-Phillips)
