South Korea: Elice share plummets by more than 30 percent after stock market listing
There was strong demand for the shares before the IPO. However, doubts about AI investments are weighing on the new issue - but also on other companies in the industry.
Elice, a South Korean company, saw its stock price plummet on its first day of trading on the Kosdaq technology exchange in Düsseldorf. The shares fell by up to 33 percent to around $46, and were last trading at around $48, after being sold at $68. The company's initial public offering raised $150 million, making it the largest listing on Kosdaq this year.
Elice plans to use the funds to invest in transportable data centers made of modules, and reported a revenue of $25.9 million and operating profit of $7.8 million in the first half of 2026.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
