From mint · A Ksheerasagar · · 1m 20s
South Korea's Elice Shares Jump 30% After Weak IPO Debut
Elice shares rebound 30% post-weak IPO debut, easing retail investor anxiety.
In brief
Elice shares rebound 30% post-weak IPO debut, easing retail investor anxiety. South Korea's Elice shares rose 30% after a weak Kosdaq IPO debut, offering relief to retail investors who oversubscribed the offering. Originally reported by mint.
Elice shares rebound
Elice shares rebounded 30% on October 21 after plunging as much as 32% during their weak Kosdaq debut.
Weak IPO debut
The South Korean data centre firm raised about $150 million in an IPO heavily oversubscribed by retail investors.
Retail investor relief
The recovery has offered some relief to retail investors, who were the biggest participants in Elice’s IPO.
Kosdaq listing details
Elice listed at a steep 33% discount to its IPO price despite raising about $151 million in what was marked as the exchange’s largest IPO of the year.
Initial share drop
Elice shares fell as much as 32% to 61,400 won in early trading on October 20.
IPO pricing
The company priced its shares at 90,500 won apiece, at the top of the marketed price range.
Market impact
The weak debut weighed on South Korea’s broader stock market, which fell 3.73% to its lowest closing level since April 7.
What matters most
South Korea's Elice shares rose 30% after a weak Kosdaq IPO debut, offering relief to retail investors who oversubscribed the offering.
