12/12/2006 The London Stock Exchange is delighted to welcome Samsung Corporation to the Professional Securities Market.
12 December 2006
The London Stock Exchange is delighted to welcome Samsung Corporation to the Professional Securities Market.
Founded in 1938 as the original member company of the Samsung Group, Samsung Corporation is one of Korea’s leading and most respected exporters and general construction companies. Having been designated by the Government as the nation’s first general trading company in 1975, Samsung Corporation traditionally served as the trading arm of the Samsung Group, epitomizing its vibrancy and dynamism and promoting global trade.
In December 1990, Samsung Corporation was the very first company in Korea to issue and introduce depositary receipts to the global securities market. Following the successful placement of Floating Rate Notes on the Main Market of the London Stock Exchange in October 2006, this block listing of up to 2,870,868 Common Share GDSs and 4,305,812 Preferred Share GDSs was admitted for trading on the Professional Securities Market of the Exchange on December 8, 2006.
Commenting on the Company’s listing, Shin Kim, Executive Vice President of Samsung Corporation:
“I believe that all of these activities mark our effort to reach out to shareholders with the commitment to grow shareholder value. Under the full guidance of London Stock Exchange and Financial Services Authority, we look forward to enhancing communications with global shareholders.”
The Professional Securities Market is the Exchange’s more flexible market for non EU issuers of specialist securities, including depositary receipts, convertible bonds and debt, which are traded among professional investors. Securities admitted to the market are listed by the UK Listings Authority but may continue to provide their financial data in their home country accounting standards.
ING Bank N.V. has acted as the Listing Advisor to Samsung Corporation, and Samsung Securities Co., Ltd. has acted as co-advisor of the listing.