South Korea's KB Asset Management Co. said on Friday it plans to list its KB Balhae Infrastructure Fund.
Launched in 2006, KBIF focuses on social overhead capital (SOC) investments, with key assets in toll roads and tunnels. Major holdings include the Daegu-Busan Expressway, Yongma Tunnel, and the Northern Suwon Bypass.
These toll road assets serve an estimated 108 million vehicles annually, delivering consistent cash flow that underpins a projected second-half dividend yield above 7%.
The IPO comprises 23.8 million shares priced at 8,400 won ($6.09), targeting capital of around 200 billion won ($150 million). Investors holding shares by year-end will qualify for dividends aligned with existing shareholders.
The bookbuilding period for institutional investors is November 8-10, with a public subscription period for retail investors on November 18-19.
KB Securities is acting as the lead underwriter, with Kiwoom Securities and Daishin Securities.
Write to Su-Ji Na at
suji@hankyung.com
