Samsung Electronics denied reports on Tuesday that it is exploring a U.S. offering of American Depositary Receipts. A company spokesperson confirmed that Samsung is not reviewing a potential U.S. listing.
The denial follows a Bloomberg News report claiming the company held preliminary talks with banks. Bloomberg suggested Samsung was motivated by rival SK Hynix, which recently raised $26.5 billion in a record-breaking U.S. debut.
The initial report caused a Hong Kong-listed leveraged ETF tracking Samsung to surge by more than 9%. This volatility reflects high investor demand for semiconductor stocks amid the global artificial intelligence boom.