The KB Balhae Infrastructure Fund (Balhae Infra), the second public infrastructure fund following Macquarie Infrastructure, and the first domestic infrastructure fund from Korea, has failed to meet its target for the general investor subscription. According to financial industry sources on November 19, the underwriters KB Securities, Kiwoom Securities, and Daishin Securities received general subscriptions for the past two days, and the competition ratio was calculated to be about 0.27 to 1. The number of subscriptions only just exceeded 6,000, and approximately KRW 12 billion was collected in deposits, only half of the pre-paid subscription amount. Balhae Infra is being offered at KRW 8,400 per share. The undersubscribed amount […]