South Korean data center company Elice plunged 32% on its first day of trading in South Korea.

South Korean data center company Elice extended its decline on its first day of trading in South Korea, falling as much as 32% at one point. South Korean AI cloud infrastructure and data center company Elice Group officially listed on the Korea Exchange's KOSDAQ market on October 20, 2026. Earlier, its peer Firmus canceled this month's highly anticipated listing plan, a move that will undoubtedly test the nerves of artificial intelligence investors. Data shows that the Seoul-based cloud service provider plans to raise 201 billion won through the IPO, which will be the largest IPO on the exchange so far this year. Elice set its offering price at 90,500 won per shareat the upper end of its previously announced price rangegiving it a total market capitalization of more than 1 trillion won after listing.