Samsung Electronics Says It Isn’t Considering US ADR Listing

Samsung Electronics Co. said it is not considering a US listing of American depositary receipts, rebutting a foreign media report that said the company was reviewing the move.

According to industry officials on July 14, Samsung gave that response when asked whether it was weighing an ADR listing.

The company also pushed back on speculation that it could follow SK Hynix Inc. after the chipmaker’s recent ADR listing, saying the two companies are in different situations.

Bloomberg News earlier reported, citing multiple unnamed sources, that Samsung was considering an ADR offering and had held preliminary talks with several financial firms.

The report said Samsung had previously pursued an ADR issuance before scrapping the plan, but was revisiting the option after SK Hynix recently listed ADRs on Nasdaq.

Some industry participants said it would be difficult to apply SK Hynix’s ADR listing case directly to Samsung because the two companies differ in cash flow and business structure.

Shin Yong-hyun, Hankyung.com reporter, yonghyun@hankyung.com