Korean data center firm Elice plunges up to 32% on first day of KOSDAQ listing
SPCX Space Exploration Technologies Corp
$147.79 -0.11%
View chart & analysis → - 1Data center infrastructure company Elice (0158S0) fell by as much as 32% in early trading on its first day of KOSDAQ trading.
- 2The IPO price was 90,500 won, at the top of the target range, and the funds raised totaled 201 billion won (151 million dollars), making it the largest IPO in Korea this year.
- 3The stock rose to approximately 78,000 won immediately after the market opened, which was 14% lower than the IPO price, but later dropped to 61,400 won.
So what's the key point?
The stock price of the company that made its largest debut on the Korean stock market this year fell sharply on its first day. It started below the IPO price and dropped by as much as 32%.
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