South Korean AI infrastructure company Elice Group saw its shares drop by approximately 32% on its first day of trading on the Kosdaq exchange on October 20, 2026. The stock fell as much as 38% during the session before closing at a price between 60,500 and 61,500 won.
Prior to the debut, the company priced its shares at 90,500 won, raising 201.1 billion won, or about $151 million. Despite high subscription demand during the bookbuilding process, the company's market valuation settled at approximately 674 billion won following the decline.
For the first half of 2026, Elice reported that its revenue tripled to 34.4 billion won, with an operating profit of 10.3 billion won. The market performance reflects broader investor caution regarding AI infrastructure firms, influenced by selling pressure on peers such as CoreWeave.
