Hyundai Heavy Industries (HHI) has reportedly resurrected an IPO for refining subsidiary Hyundai Oilbank.

Reuters' IFR news service cited sources familiar with the matter as saying the Korean shipbuilder has picked six banks to carry out a listing that could raise as much as $2bn.

A deal could go ahead this year.

Lead banks advising the IPO are reportedly Hana Daetoo Securities and NH Investment & Securities, while joint lead managers are Bank of America Merrill Lynch, Citigroup, Shinhan and Mirae Asset Daewoo Securities.