South Korea’s Hyundai Oilbank scraps IPO bid as financial market conditions deteriorate
South Korea’s smallest oil refiner Hyundai Oilbank has decided to scrap its bid for an initial public offering due to unfavorable financial market conditions, the company’s parent Hyundai Heavy Industries Holdings said July 21. Hyundai Oilbank held a board meeting July 20 and decided to cancel its IPO bid because of worsening equities and fixed income market circumstances, Hyundai Heavy…