Elice Group

AI Infrastructure · Cloud Computing · IPO

IPO

Elice Group targets $700M valuation in largest KOSDAQ IPO of 2026

Its mobile data centers deploy in three months, giving security-conscious banks, government and defense clients a fast alternative to the public cloud.

• Elice Group filed its securities registration with Korea's Financial Supervisory Service on Aug. 21, 2026, launching a KOSDAQ IPO of 2.22 million new shares priced between 70,400 and 90,500 won, led by Mirae Asset Securities and Samsung Securities.
• Founded in 2015 by CEO Kim Jae-won, Elice Group builds AI full-stack infrastructure, including mobile modular data centers (AI PMDC) it says can be deployed within three months at up to 50% lower cost than traditional data centers.
• At the top of its price band the offering would value Elice Group near 1.01 trillion won (about $730M), making it KOSDAQ's largest listing of 2026 and topping StradVision's 666 billion won debut.
• First-half 2026 revenue jumped 202% year-over-year to 34.4 billion won (about $25M), while operating profit swung to a 10.3 billion won gain from a prior-year loss, with EBITDA margin reaching 68%.
• Elice Group plans to funnel nearly all IPO proceeds into infrastructure: about 28.7 billion won for AI PMDC containers near Seoul and roughly 126.3 billion won for a new GPU-heavy data center buildout in the Honam region.
• The listing tests investor appetite for Korea's 'sovereign AI' infrastructure buildout, as public, financial and defense clients seek data centers that sidestep public-cloud security and network-separation rules.