Elice raises $151M in KOSDAQ IPO as shares open below offer price

Elice Group, a South Korean AI infrastructure company, raised 201.1 billion won, about $151 million, in its KOSDAQ listing. Shares opened 16% below the offer price at 75,700 won on the debut day. Coverage framed the weak debut as another sign of investor doubt about the AI trade, as enthusiasm for AI-linked stocks faded in the broader market. No valuation was reported in the coverage reviewed. For builders raising capital, the debut shows that data center and infrastructure businesses face tougher pricing when public investors question AI demand. Listing timing and offer pricing matter as much as the growth story. Public markets are now the test for AI infrastructure companies, and this debut shows how quickly sentiment can shift after pricing.