Elice Inc. Raises 201 Billion Won in Kosdaq IPO

Elice Inc. debuted on South Korea's Kosdaq market on Tuesday, raising 201 billion won ($151 million) in the largest initial public offering on the bourse this year. The Seoul-based neocloud service provider priced its shares at 90,500 won each, the top of its marketed range, which pushed its post-listing market capitalization above 1 trillion won.

The listing serves as a critical indicator of investor appetite for artificial intelligence infrastructure. This interest follows the recent cancellation of a high-profile listing by Firmus, a peer company specializing in data-center infrastructure, which had occurred earlier in the month.