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SEOUL, Aug 25 (Reuters) - Samsung SDS Co Ltd, the IT services affiliate of Samsung Group, has applied for preliminary listing approval on the South Korean stock exchange, two people with direct knowledge said on Monday.
The company, valued at 20.9 trillion Korean won ($20.49 billion) in the over-the-counter market on Monday, said in May it plans to list by the end of this year.
The estimated size and timing of the offering was not disclosed in the application, said one of the sources.
Both sources declined to be identified as not authorized to speak to media. Samsung SDS declined to comment.
Goldman Sachs, Korea Investment & Securities and JPMorgan are advising on the listing.
1 US dollar = 1,020.0000 Korean won Reporting by Joyce Lee