HD Hyundai "Stock Market Deterioration... Subsidiary Hyundai Oilbank Withdraws IPO Plan"
[Asia Economy Reporter Ji Yeon-jin] HD Hyundai announced on the 21st that it is withdrawing the listing plan of its subsidiary, Hyundai Oilbank.
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The company explained, "Hyundai Oilbank, a subsidiary of HD Hyundai, had made substantial efforts toward listing, including obtaining preliminary approval for the stock market listing in Korea. However, considering recent deteriorations in the stock market and other overall conditions, which make it difficult to receive an appropriate valuation of the company, we have decided to withdraw the listing plan."
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