Following SK Hynix, Samsung has approved the listing of its securities in the U.S. — Bloomberg

Samsung Electronics is exploring the possibility of a secondary offering of its securities in the U.S. — following the largest foreign listing in the United States by its main competitor, SK Hynix, according to Bloomberg.

According to agency sources familiar with the matter, the chipmaker is in the early stages of discussing the possibility of listing its depositary receipts in the U.S. Specifically, Samsung has held preliminary talks with banks. However, no decision has yet been made on whether to proceed. Samsung’s next steps will depend, among other things, on the volatility of memory chip manufacturers’ stocks, Bloomberg sources say.

Samsung Electronics declined to comment on the matter. In South Korea, the chipmaker's stock rose by just over 3% on July 14.

According to the agency’s sources, this is not the first time Samsung Electronics has explored the possibility of listing its American Depositary Receipts (ADRs) in the United States. The chipmaker’s management was prompted to revisit this issue by SK Hynix’s successful secondary offering in New York.

SK Hynix, which competes with Samsung in the memory chip market, raised $26.5 billion on July 10 in the largest-ever U.S. initial public offering by a foreign company. The deal signaled investor demand for companies at the epicenter of global artificial intelligence development, despite concerns that valuations in the AI supply chain are overinflated, Bloomberg noted.

Samsung's stock has risen by about 120% this year in South Korea, pushing the company's market value to more than $1 trillion, according to Bloomberg. By comparison, SK Hynix shares have surged 194%, and the company’s market capitalization has reached about $900 billion. In U.S. premarket trading, SK Hynix ADRs are up 7%.

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