South Korean data-centre and AI services company Elice debuts on the Kosdaq market with its shares falling sharply. Multiple outlets report that Elice’s stock drops about 28% to 32% in early trading, turning its listing into a turbulent start after a large initial public offering.
Elice raised about 201 billion won (around $150 million) in what outlets describe as the Kosdaq’s biggest IPO of the year. The company provides AI cloud services, alongside AI-based education and business software, and says it plans to use most of the proceeds to develop portable modular data centres and related infrastructure.
Context around the debut includes broader caution toward data-centre and AI-related equities. Bloomberg also notes that the listing comes as investor sentiment is tested after another peer, Firmus, cancels a high-profile listing earlier in the month, highlighting uncertainty for the sector and the impact of investor appetite for AI-linked offerings.
