Hyundai Heavy Industries Holdings "Reattempting Hyundai Oilbank Stock Market Listing Next Year"

[Asia Economy Reporter Oh Hyung-gil] Hyundai Oilbank is re-initiating its plan to go public on the domestic stock market, targeting next year.

Hyundai Heavy Industries Holdings announced on the 14th that its subsidiary, Hyundai Oilbank, held a board meeting and resolved to apply for a designated auditor to resume the IPO process. Hyundai Heavy Industries Holdings is the largest shareholder, holding 74.13% of Hyundai Oilbank's shares.

The company stated, "Hyundai Oilbank will re-pursue the IPO based on the application for a designated auditor," adding, "We aim to list on the domestic stock market within next year after completing subsequent procedures."