South Korean IPO flop marks latest disappointment for global AI trade
Photo: Crypto Briefing
Seoul-based Elice raised 201 billion won in a heavily oversubscribed listing, then watched its shares close about 32% lower on day one Elice Inc. pulled off the biggest Kosdaq listing of 2026 by proceeds. Then its stock started trading. The Seoul-based AI cloud services provider raised 201 billion won (approximately $151 million) in its October 20, 2026 debut. Shares closed roughly 32% below the offer price on their first day, a sharp reversal for a company that drew enormous demand before listing. Elice priced its shares at 90,500 won each. On paper, demand looked spectacular.
Source: Crypto Briefing
