Korean AI data centre firm Elice sinks 32% in record-worst IPO debut

Shares in South Korean AI data centre company Elice fell 32% on their Seoul trading debut, the worst first day for a Korean IPO of $100m or more. The company raised 201.1bn won ($151m) selling 2.22 million shares at 90,500 won each.

• Shares closed at 61,500 won versus the 90,500 won IPO price
• The IPO raised 201.1bn won ($151m), the biggest on Kosdaq this year
• The retail tranche was 400 times oversubscribed, drawing 10.3tn won in deposits
• Elice's first-half revenue rose 200% to 34.4bn won