TNW | Investors-funding
Korean AI data centre firm Elice sinks 32% in a record-worst IPO debut
The Elice IPO raised $151m at the top of its range, with retail demand 400 times the shares on offer. It is the latest AI infrastructure listing to stumble.
Via TNW | Investors-funding
·Excerpt
Shares in Elice, a South Korean AI data centre company, fell 32% on their first day of trading in Seoul on Tuesday. It was the worst debut on record for a Korean IPO of $100m or more, according to data compiled by Bloomberg, as Yoolim Lee and Youkyung Lee reported.
Elice raised 201.1bn won ($151m) in the IPO, Reuters reported, citing the company’s filing. It sold 2.22 million new shares at 90,500 won each, the top of its range. The…
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