Korean AI data center firm Elice closes 32% below its IPO price in Kosdaq debut

Shares of Elice Group closed at 61,500 won on their first day of trading Tuesday, 32% below the 90,500-won IPO price, after falling as low as 56,500 won intraday, Yonhap reported. The Seoul-based AI cloud and data center provider raised 201.1 billion won ($151 million) in South Korea's biggest IPO of 2026, priced at the top of its range, and retail investors had oversubscribed the offering more than 400 times. The slump tests appetite for AI infrastructure stocks after planned listings tied to AirTrunk, Firmus and SB Energy were pulled or paused, Reuters reported.