Korea’s First Infra Fund, KB Balhae Infra Fails Demand Forecast, Reduces IPO Target by 20% KB Asset Management’s ‘KB Balhae Infra Fund’, which was seeking to go public, has failed to meet demand expectations. The demand forecast conducted from November 8-21 targeting institutional investors ended with a competition rate of 3.99 to 1. Accordingly, the IPO will proceed by reducing the offering size from the existing 23,809,524 shares to 19,047,620 shares, a 20% reduction. Only one institution out of the 84 domestic and foreign institutional investors who participated in this demand forecast, including 38 domestic institutions and 46 foreign institutions, made a commitment not to sell the allocated […]