Capital Markets · Report

Elice Group, a South Korean data center firm, fell 32% on its IPO debut as AI shares weakened.

A weak debut for a data center listing signals fading public-market appetite for AI infrastructure IPOs, which could slow capital raising for smaller operators.

Trade pressSlicast · October 20, 2026 at 18:51 UTC · US · Source: www.tokenpost.com

importance 58

Elice Group, a South Korean AI cloud provider, fell 32.04% in its October 20 stock market debut, while CoreWeave Inc. also slipped before the U.S. open amid questions about AI infrastructure spending.

Elice ended its first regular KOSDAQ session at 61,500 won a share, down 29,000 won from its 90,500-won IPO price. The session closed at 2:30 a.m. ET (06:30 UTC) on October 20.

The company raised about $151 million in the offering after pricing its shares at the top of the range. Retail subscriptions were 408.26 times the shares available, while institutional demand reached 388.8 times. Elice plans to use the proceeds to expand regional AI infrastructure and next-generation GPU capacity.

At 8:08 a.m. ET (12:08 UTC) on October 20, CoreWeave shares were 4% lower ahead of regular U.S. trading. South Korea's KOSPI closed 3.73% lower at 5,552.74 that day. The declines came as investors weighed the cost of building AI data centers against the returns those projects might produce.

Read the original