Samsung official denies US ADR plan, but internal evaluation has already been initiated

Odaily, Citrini analyst jukan posted on X platform, stating that Samsung Electronics has reportedly begun an internal evaluation of a plan to issue American Depositary Receipts (ADRs) in the United States and is studying the relevant operational procedures. Although Samsung Electronics has officially denied considering a US listing through an ADR issuance, staff-level employees have begun assessing potential costs, benefits, and necessary procedures under the direction of senior management.

Sources from the semiconductor industry said that relevant departments at Samsung Electronics are studying whether a viable US ADR issuance structure can be established. Teams such as finance and investor relations are identifying their respective tasks and processes should the US listing move forward. This evaluation is considered a preliminary feasibility study and does not indicate that Samsung Electronics has decided to list or determined the timing and scale of the issuance.

Samsung Electronics employees have also reportedly requested information on the preparation process and practical experience from SK Hynix, which recently issued ADRs and listed on the Nasdaq. Bloomberg reported on July 14 that Samsung Electronics had held preliminary discussions with investment banks regarding a potential US listing via ADRs, but no specific decisions have been made regarding underwriters or the issuance structure, and ultimately, a listing may not occur. Following the report, Samsung Electronics stated that the company has not considered listing on the US stock market through an ADR issuance. SK Hynix issued ADRs on July 10 at $149 per share, raising approximately $26.5 billion, or about 40 trillion Korean Won, making it the second-largest listing in the history of the US stock market, trailing only SpaceX, which raised $85.7 billion through its initial public offering last month. It also represents the largest listing by a foreign company in the United States.