Leveraged ETF on Samsung Electronics Surges Over 9% in Late Trading Amid Reports of Potential ADR Issuance

Stock News15:46

The leveraged ETF offering double the daily return of Samsung Electronics Co Ltd (HK: 07747) surged more than 9% during late trading. At the time of writing, it was up 9.24% to HK$97.4, with a trading turnover of HK$3.222 billion.

This movement follows a market report on July 14th, citing sources familiar with the matter, which indicated that Samsung Electronics is exploring the possibility of issuing American Depositary Receipts (ADRs). The company has reportedly held preliminary discussions with banks, though no final decision has been made to proceed. The report noted that the company will monitor the volatile movements of memory chip stocks during its decision-making process.

It was emphasized that these discussions remain at a very early stage and may not necessarily result in a listing. A representative for Samsung declined to comment on the matter.

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