Home Business A Korean company owned by Aramco, 17%, is preparing to list its...

A Korean company owned by Aramco, 17%, is preparing to list its shares in bag

0

South Korea’s Hyundai Oilbank, an oil and refining company, has received initial approval for its initial public offering (IPO) from the Korea Stock Exchange.

This is the company’s third listing attempt after it withdrew its previous listing plans in stock exchange in 2012 and 2018 due to market conditions.

HD Hyundai owns about 74% of Hyundai Oilbank, while Saudi Aramco owns 17%, which it acquired in 2019, when the company’s valuation was 8 trillion. won Koreans, or about 6 billion dollars.

NH Investment & Securities, KB Securities and Credit Suisse have been appointed as advisors for the upcoming public offering.

The bidding and book creation process is expected to take place between September and October for the November stock listing.

Read More About: Business News

NO COMMENTS

Exit mobile version