South Korean data center firm Elice fell 32% on its first day of trading before closing slightly higher. Its revenue tripled in the first six months of the year, and the IPO raised 201 billion Korean won (US$150 million) to fund data centers in South Korea and possibly expand to the US, Japan and Singapore. The article links the weak debut to rising wariness toward the AI trade and a wider Korean sell-off, with the KOSPI index down a further 3.7% on Tuesday after doubling in the first six months of the year and then losing two-fifths. In the past two weeks, Australian company Firmus pulled its $5 billion IPO, PLDT delayed its data center REIT IPO until next year, and AirTrunk pushed back its $1.5 billion Singapore REIT. Trading in credit default swaps has also skyrocketed, reaching more than $9 billion a week in September, up from less than $2 billion in July.
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Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/20/2026 | 216.47 |
| Change that session | -0.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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