[Featured Stock] 'KOSPI Debut' KB Balhae Infrastructure Drops About 8%

KB Asset Management's infrastructure fund, 'KB Balhae Infra,' is showing weakness on its first day in the KOSPI market.

As of 9:38 AM on the 29th, KB Balhae Infra is trading at 7,690 KRW, down 710 KRW (8.45%) from the public offering price of 8,400 KRW.

KB Balhae Infra, which held its general subscription on the 18th and 19th, recorded a disappointing subscription rate of 0.27 to 1. This continues the recent trend of poor stock price performance on the day of listing for newly listed companies. The underwriting consortium, including KB Securities, Kiwoom Securities, and Daishin Securities, has voluntarily agreed not to sell the unsold shares from the general subscription for three months to manage supply and demand and protect retail investors.

KB Balhae Infra is the first domestically originated public infrastructure fund in Korea. Its main investment targets are social overhead capital (SOC) such as toll roads, tunnels, and railroads. Currently, it distributes dividends from operating income generated by premium toll road assets used by approximately 108 million vehicles annually, including the Daegu-Busan Expressway, Namyangju Suseok-Hopyeong Road, Seoul Yongma Tunnel, Busan Sanseong Tunnel, and Suwon Outer Ring (Northern) Road.