Samsung SDS Co Ltd, the IT services affiliate of Samsung Group, may list its shares on the Korean stock exchange at around 200,000 won ($192.33) a share, a source with direct knowledge of the matter said on Wednesday.

The company, whose shares were trading at 332,000 won on the over-the-counter market on Tuesday, said in May that it plans to list by the end of this year.

If new shares are not issued, an offer price of around 200,000 won would give Samsung SDS a market capitalisation of about 15.47 trillion won ($14.88 billion), based on the number of outstanding shares as of the end of June.

The source declined to be identified as the matter was confidential.

Samsung SDS told the exchange on Monday that it may list its shares at a price somewhere between 150,000 won and 250,000 won, though that is subject to change as the listing process progresses, local newspaper Korea Economic Daily reported on Wednesday, without saying where it got the information.

The newspaper also said Samsung SDS is not expected to issue new shares, or would minimise the issuance of new shares for the listing, and that shareholders Jay Y. Lee, son of Samsung Electronics Co Ltd Chairman Lee Kun-hee, and his two sisters are not expected to divest shares in the listing.

Instead, Samsung Group units that hold stakes in SDS, with the exception of Samsung Electronics, could offer their shares, the newspaper added.

Other Samsung Group units that own SDS shares include Samsung Electro-Mechanics and Samsung C&T.

Samsung SDS declined to comment.