LONDON - Samsung Electronics Co (F:SAMEq). Ltd. has officially delisted its preferred share depositary receipts (DRs) from the Luxembourg Stock Exchange due to low trading volume and simultaneously listed these securities on the London Stock Exchange (LON:LSEG) (LSE) as of Thursday.
The South Korean technology giant confirmed the transition involving 39,191,100 shares, equivalent to 1,567,644 DRs, which represent preferred shares of the company. This move is intended to facilitate continued trading for overseas investors, with the LSE listing taking effect on the same day as the delisting, ensuring no interruption for shareholders.
Preferred shares, as outlined by Samsung, are non-cumulative and non-voting, carrying an additional dividend of 1% per annum over the dividend for common shares. These shares were originally listed in Luxembourg in 1991 to aid transactions for international investors.
Investors holding the delisted DRs from Luxembourg can now trade them on the LSE under the ticker code SMSD. Additionally, Samsung has stated that holders of these DRs have the option to exchange them for the underlying preferred shares if they choose, adhering to the previously established terms.
This strategic shift to the LSE is part of Samsung’s ongoing efforts to optimize their presence in global financial markets and provide accessible trading options for their international investor base.
The delisting and listing procedures were completed on the same day, with the company ensuring all regulatory requirements and confirmations were in place. The DR ratio remains at 25:1, meaning each DR represents 25 underlying preferred shares of Samsung Electronics (KS:005930).
The market price for Samsung’s DRs can now be tracked on the LSE’s website, offering investors a transparent view of the trading activity. This news is based on a press release statement from Samsung Electronics.
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