Samsung Electronics Officially Denies Reviewing US ADR Listing
Samsung Electronics officially denied that it is reviewing options for a listing on the US stock market through the issuance of American Depositary Receipts (ADR) on 7 month 14 day. This announcement follows speculations related to SK Hynix's ADR listing on 7 month 10 day.
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Samsung Electronics officially denied on 7 month 14 day that it is reviewing options for a listing on the US stock market through the issuance of American Depositary Receipts (ADR). This announcement is directly related to the company's financing plans.
A company representative stated on the same day, "We have not reviewed a listing." Other responses included phrases like "we are not considering it" and "this is not true."
This denial came right after some foreign reports claimed that Samsung Electronics had engaged in preliminary discussions with several investment banks regarding the issuance of ADRs. The company issued a statement denying those reports.
In the market, it has been suggested that SK Hynix's successful ADR listing on the US Nasdaq on 7 month 10 day, which raised a total of 265 million dollars (approximately 40 trillion won), triggered speculations regarding Samsung's review.
Samsung Electronics has already explained that it has secured funds for investments in semiconductors and has a low necessity to issue new shares. SK Hynix announced on 7 month 10 day that it has completed its ADR listing.
The two companies have expressed differing positions. Additional announcements may further clarify the company's stance.