South Korea refiner Hyundai Oilbank seeks listing in 2022 - parent

South Korea refiner Hyundai Oilbank seeks listing in 2022 - parent

SEOUL: Hyundai Oilbank Co Ltd, the refinery unit of Hyundai Heavy Industries Holdings decided on Monday to pursue a listing in the South Korean market during 2022, Hyundai Heavy said in a regulatory filing on Monday.

Hyundai Oilbank had previously pursued a listing in 2018 but had delayed the plan until this year due to regulatory scrutiny of its balance sheet.

Hyundai Heavy Industries Holdings held 74.1per cent of the refiner as of end-March, while Saudi Aramco owns 17per cent of the refiner through an overseas unit, according to a Hyundai Oilbank filing.

(Reporting by Joyce Lee, editing by Louise Heavens)

Source: Reuters

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