SEOUL, March 27 (Reuters) - South Korea's Innocean Worldwide Inc, Hyundai Motor Group's advertising unit, said on Friday it applied for preliminary exchange approval for its planned initial public offering some time this year.
Market analysts have estimated that the IPO is expected to value the company at around 1.5 trillion won ($1.36 billion) in market capitalisation, making it one of the largest floats in South Korea seen this year.
A spokeswoman for Innocean said details of the IPO had not been decided, including size of the offering or the exact timing. NH Investment & Securities is the lead adviser for the IPO. ($1 = 1,103.4100 Korean won) (Reporting by Joyce Lee)