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[AI worries are back, South Korean data center company Elice plunges 32% on its first day of listing] On October 20, the share price of data center infrastructure company Elice Inc. plummeted on its first day of listing, highlighting investors' concerns about whether the development of AI can justify the huge investment in the industry. The Seoul-based company fell sharply at the opening, plunging 38% at one point, before narrowing its losses to 32% by the close. Data showed it was the worst first-day performance ever for a large Korean IPO. Previously, the company raised 201 billion won (US$151 million) through an IPO. The issue price was at the high end of the guide price range, and retail investors subscribed 400 times.
Global market intelligence 🕐 2026-10-20 15:25
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