Samsung Electronics denied a July 14 report that it was in the early stages of considering a US offering of American Depositary Receipts (ADRs).

Samsung said it is not reviewing the possibility of issuing ADRs.

The statement came after a report said Samsung had held preliminary talks with banks and had not decided whether to proceed.

ADRs are securities issued by US depositary banks that represent shares in foreign companies, allowing investors to trade them in the US market.

The report also said that Samsung had previously reviewed an ADR offering, but ultimately decided against it.

It added that rival SK hynix, a South Korea-based memory chipmaker, priced its ADRs at US$149 each last week, raising about US$26.5 billion in the largest-ever US listing by a foreign company.

🔗 Source: Reuters

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