# South Korea's Elice Shares Plunge 28% in Market Debut

> South Korea's Elice Group shares plummet 28% in market debut as data centre stocks face investor skepticism.
- Title: South Korea's Elice Shares Plunge 28% in Market Debut
- Summary: South Korea's Elice Group shares plummet 28% in market debut as data centre stocks face investor skepticism. Elice Group's AI services shares dropped 28% on…
- Keywords: elice group, south korea, ai services, ipo, data centre stocks, market debut, south korean ai, money, business, South, Korea's, Elice
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/news/global-market-south-koreas-elice-shares-plunge-28-in-market-debut-as-data-centre-stocks-shunned/articleshow/135060541.cms
- Author: Reuters
- Published: 2026-10-20T03:23:00+00:00
- Read time: 1 min
- Topics: elice group, south korea, ai services, ipo, data centre stocks, market debut, south korean ai, money, business
## Elice Group Shares Plunge
Elice Group shares plummeted 28% in their market debut on Tuesday.
## IPO Details
Elice raised 201.1 billion won ($150 million) in its IPO, providing AI cloud services and education software.
## Investor Concerns
Investors question whether massive AI spending can pay off amid elevated inflation and borrowing costs.
## Analyst Quote
Kim Hak-joon, an analyst at Seoul-based Kiwoom Securities, said: 'There's worry that these kinds of companies may not be able to get additional funding from investors'.

> There's worry that these kinds of companies may not be able to get additional funding from investors
## Market Reaction
Elice's shares traded at 65,300 won versus IPO pricing of 90,500 won with institutional orders 388.84 times the shares available.
## Financial Performance
Elice reported revenue tripled to 34 billion won and swung to an operating profit of 10 billion won for the first half of the year.
## Key takeaway

Elice Group's AI services shares dropped 28% on market debut after raising 201.1 billion won ($150 million) in IPO, with investors questioning AI sector demand.