July 14 (Reuters) – 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.
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 U.S. 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 $149 each, raising about $26.5 billion in the largest-ever U.S. listing by a foreign company.
(Reporting by Devika Nair in Bengaluru and Hyunjoo Jin in Seoul; Editing by Sherry Jacob-Phillips)
