S Korean refiner Hyundai Oilbank plans IPO in 2022 on domestic fuel demand recovery, ample liquidity


Second attempt to list on stock exchange after IPO bid aborted in 2018

Domestic fuel demand picking up, Middle distillate cracks improving

Low interest rates, easy monetary stance to support investor sentiment

South Korean oil refiner Hyundai Oilbank plans to list its shares on the country’s main bourse next year as the fuel producer aims to take full advantage of the country’s upbeat oil demand recovery outlook and strong refining margins, while favorable capital market conditions amid low interest rates bode well for raising funds.

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Hyundai Oilbank’s board members have approved a plan to push for an initial public offering, or IPO, some time in 2022, a company official told S&P Global Platts.

Hyundai Oilbank is owned 74.13% by Hyundai…

Read full article…www.spglobal.com