July 11, 2018 / 6:59 AM / 3 months ago

Hyundai Oilbank files for review on its planned IPO - S.Korean bourse

SEOUL, July 11 (Reuters) - South Korean refiner Hyundai Oilbank Co Ltd has applied for a preliminary review on its planned initial public offering, the Korea Exchange said on Wednesday. In what would be one of South Korea’s biggest initial public offering for this year, the company is aiming for a listing around September or October worth at least $1 billion.

The Korea Exchange said in a statement NH Investment & Securities and Hana Financial Investment were underwriters for Hyundai Oilbank’s offering.

Hyundai Oilbank, South Korea’s smallest refiner by capacity, has a 390,000-barrels-per-day refinery in Daesan, southwest of Seoul.

Hyundai Robotics, the holding company of Hyundai Heavy Industries Group, owns 91 percent of Oilbank. (Reporting by Ju-min Park; Editing by Gopakumar Warrier)

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