Ellis Falls 30% Below IPO Price on KOSDAQ Debut
Ellis opened at 75,700 won but slid to 61,000 won during its first session, cutting its market value to about 700 billion won, techm.kr reported.
Ellis, the AI infrastructure and software company, fell more than 30% from its IPO price on its first day of trading on KOSDAQ on October 20, 2026, according to techm.kr.
The stock opened at 75,700 won per share and dropped as low as 61,000 won during the session. By the morning of October 20, shares were trading at 62,700 won, down 30.72% from the IPO price of 90,500 won.
The decline cut Ellis's market capitalization from about 1 trillion won at the IPO price to roughly 700 billion won.
Ellis, founded in 2015, focuses on AI transformation (AX) and AI Cloud software. In its institutional demand forecast, the company recorded a competition ratio of 388.84 to 1 and priced its offering at 90,500 won, the top of its hoped range.
The company posted 39.5 billion won in revenue and 5.2 billion won in operating profit last year. In the first half of this year, it recorded 34.4 billion won in revenue and 10.3 billion won in operating profit.
Quick answers
What was Ellis's IPO price?
Ellis set its IPO price at 90,500 won per share, the top of its hoped range.
How much did Ellis shares fall on their first trading day?
By the morning of October 20, 2026, shares traded at 62,700 won, down 30.72% from the IPO price.
What does Ellis do?
Ellis, founded in 2015, focuses on AI transformation (AX) and AI Cloud software.