Elice shares sink 28% in Seoul debut as investors shun AI data centre listings
Shares of South Korean AI services firm Elice fell 28% in their market debut, as sentiment toward data-centre IPOs cooled, Reuters reports.
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what happened
Shares of Elice Group, a South Korean provider of AI cloud services and AI-based education and business software, dropped 28% in their market debut on Tuesday, Reuters reported.
The stock last traded at 65,300 won, well below its 90,500 won IPO price. The offering, which raised 201.1 billion won ($150 million), drew institutional orders worth 388.84 times the shares available, according to a company filing. Elice said first-half revenue tripled to 34 billion won and it swung to a 10 billion won operating profit from a 3.5 billion won loss a year earlier.
The company plans to use most of the proceeds to launch portable modular data centres and related infrastructure.
why it matters
Reuters ties the sell-off to waning appetite for AI infrastructure: investors question when heavy AI spending will pay off, while elevated inflation keeps borrowing costs high. Several data centre firms have shelved listing plans, including Nvidia-backed Firmus, AirTrunk, which postponed a Singapore REIT IPO, and SB Energy, a SoftBank unit that had filed for a US IPO.
market impact
AI data-centre stocks and IPO pipeline: weaker investor appetite pressures valuations of similar listings
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instruments
sources
- South Korea's Elice shares plunge 28% in market debut as data centre stocks shunned — Reuters, 20 October 2026 at 02:27 UTC
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