Samsung Electronics Denies Considering ADR Issuance
Bloomberg Reports "Preliminary Talks Held with Financial Institutions"
Samsung Electronics has issued an official statement saying that it is "not considering" the issuance of American Depositary Receipts (ADR) in the United States, following foreign media reports suggesting otherwise.
On July 14, Bloomberg reported, citing anonymous sources, that Samsung Electronics had held preliminary discussions with financial institutions regarding listing ADRs in the U.S. The report explained that the process is still in the early review stage, rather than having selected underwriters or formulated concrete plans.
Bloomberg added that Samsung Electronics had previously considered issuing ADRs but withdrew the plan, and that the recent success of SK hynix’s U.S. listing has emerged as a motive for the current review. The report also noted that, given the significant volatility in the memory semiconductor sector, it is possible an ADR listing might not materialize.
In response, Samsung Electronics issued an official position, stating that the report is "groundless" and the company "has not considered it."
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Earlier, on July 10, SK hynix listed ADRs on the U.S. Nasdaq market.
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