Elice Inc. raised about 201.1 billion won in its share offering, but buyers at the offer price faced a 32.04% paper loss after the AI infrastructure company’s Kosdaq debut Tuesday.
Elice shares closed at 61,500 won, compared with the 90,500-won offer price, which was at the top of the proposed range. The stock traded as low as 56,500 won during the session, about 37.6% below the offer price.
Elice said it plans to use the offering proceeds for AI infrastructure in South Korea. The company separately outlined plans to expand overseas.
The Korea Composite Stock Price Index (KOSPI) closed at 5,552.74, down 215.27 points, or 3.73%, following Monday’s 1.76% gain. It fell as low as 5,493.24 during Tuesday’s session, a 4.76% decline from the previous close.
SK hynix shares lost 4.23% to close at 1,223,000 won, while Samsung Electronics fell 2.98% to 211,500 won.
Tuesday’s KOSPI close was 39.1% below its record closing level of 9,114.55, set June 22. Measured against the June 19 intraday high of 9,385.59, the decline was 40.8%.
