Elice Group’s retail offering draws 408-to-1 subscription ratio; deposits total 10.2599 trillion won

[Financial News] Elice Group, an artificial intelligence (AI) infrastructure company, recorded a subscription ratio of 408 to 1 in its retail investor offering ahead of its KOSDAQ listing.
According to the financial investment industry on the 12th, the retail offering Elice Group held on the 7th and 8th drew applications for a total of 226,737,440 shares against an allocation of 555,500 shares. Subscription deposits totaled 10.2599 trillion won.
Earlier, Elice Group conducted a book-building process for domestic and overseas institutional investors from the 23rd of last month through the 1st of this month, setting its final offering price at 90,500 won, the top of its indicated range. The offering is expected to raise a total of 201.1 billion won, and the company’s expected market capitalization after listing is 1.0054 trillion won.
Elice Group plans to use the proceeds to invest in new AI infrastructure in the Seoul metropolitan area and regional hubs, and to build next-generation graphics processing unit (GPU) infrastructure. It also plans to expand its global business through its U.S. and Singapore subsidiaries and pursue overseas expansion of its industry-specific AI transformation (AX) solutions.
Elice Group CEO Kim Jae-won said, “As a ‘full-stack AI partner’ spanning everything from high-performance AI infrastructure and cloud services to industry-specific AX solutions, we will solidify our market leadership and continue sustainable growth.”
Elice Group is scheduled to list on the KOSDAQ market on the 20th, following payment of subscription funds on the 13th. Mirae Asset Securities is the lead underwriter, and Samsung Securities Co., Ltd. is the joint lead underwriter.
CEO Kim previously said at a press briefing held on the 30th of last month, “We will expand AI data centers in each region to ease domestic power bottlenecks and accelerate exports of AI infrastructure and computing resources to global markets.”

[email protected] Im Sang-hyeok Reporter