South Korea's Hyundai Oilbank withdraws its IPO plan (updated)

HD Hyundai

21/07/2022 02:33

(Adds background)
    SEOUL, July 21 (Reuters) - South Korean refiner Hyundai
Oilbank said on Thursday it has withdrawn its initial public
offering (IPO) plan. 
    The refiner decided to withdraw its plan to list considering
the difficulty of receiving a proper valuation for the company
due to the recent deterioration of the stock market and other
conditions, its parent HD Hyundai Co Ltd  267250.KS  said in a
regulatory filing.
    It was Hyundai Oilbank's third listing attempt, after it
pulled previous plans for an IPO in 2012 and 2018 due to market
conditions.  urn:newsml:reuters.com:*:nL1N2YG0EN
    Amid market uncertainties, South Korean builder Hyundai
Engineering Co Ltd, part of Hyundai Motor Group, withdrew its
planned IPO in January.  urn:newsml:reuters.com:*:nL1N2U8043

 (Reporting by Heekyong Yang and Joyce Lee; Editing by
Jacqueline Wong and Muralikumar Anantharaman)
 ((joyce.lee@tr.com;))