Samsung dismisses ADR offering report as 'groundless'

Samsung Electronics denied a Bloomberg News report that it is exploring an American depositary receipt (ADR) offering in the United States.

"The news is groundless," a Samsung spokesperson told the Korea JoongAng Daily on Tuesday. "The company is not reviewing a listing."

Bloomberg had reported that the Korean chipmaker held preliminary discussions with banks, though no decision has been made and the talks remain at a very early stage.

This isn't the first time Samsung has weighed the idea, according to the U.S. outlet, which reported that the company previously considered an ADR offering before deciding against it. However, rival SK hynix's successful U.S. debut appears to have reignited interest, Bloomberg said.

Last week, SK hynix priced its ADR at $149 per share, raising $26.5 billion in what became the largest-ever U.S. listing by a foreign company.