Loss-making Hyundai Heavy industries (HHI) is reportedly plotting an IPO for its refining unit Hyundai Oilbank.
The Maeil daily cited unidentified Hyundai Heavy officials as saying a listing of shares could take place when market conditions become favourable.
They added that speculation it will sell the business is groundless.
The market capitalisation of Oilbank could be between KRW 6 trillion and KRW 7 trillion ($5.81bn).
HHI
