Elice Group (Ticker: 0158S0 KS) is a South Korean provider of AI infrastructure, GPU cloud services and enterprise AI solutions. Founded in 2015 as a coding education platform, the company has expanded into modular AI data centres and proprietary cloud software designed to improve GPU utilisation. AI cloud accounted for 76% of revenue in 1H26, up from 7% in 2023.

Elice Group expects to begin trading on Korea Exchange (KOSDAQ) on October 20, 2026. The offering comprises 2,222,000 newly issued shares and was priced at KRW 90,500 per share, at the top of the indicative range of KRW 70,400–90,500. The offering represents KRW 201.09 billion in gross proceeds, or approximately $149.51 million, implying a market capitalisation of around KRW 1.01 trillion. Institutional bookbuilding was 388.8 times subscribed. Mirae Asset Securities is the lead manager, and Samsung Securities is the joint lead manager.

The company reported 1H26 revenue of KRW 34.4 billion and operating profit of KRW 10.3 billion, compared with FY25 revenue of KRW 39.5 billion. IPO proceeds will fund AI data-centre expansion and international growth. Key risks include capital-intensive infrastructure investment and reliance on public-sector contracts.