Lablup Shares Close Below IPO Price

Lablup closed at 14,220 won on November 3, its first day on KOSDAQ, 25.16% below its IPO price of 19,000 won. The stock initially climbed 49.2% above that price to 28,350 won, then fell as selling emerged, reaching 13,310 won at one point, about 30% below the IPO price. It finished 4,780 won below the offer price.

Trading volume reached 37.32 million shares, 17 times the 2.18 million shares offered. At the closing price, Lablup's market capitalization was 207.1 billion won, about 70 billion won less than the 276.8 billion won projected at the IPO price. Earlier, institutional demand was 284.53 times the shares available, but the IPO price was set at the bottom of the 19,000–22,000 won range.

Elice Group, which listed on October 20, also finished its first day at 61,500 won, 32% below its 90,500 won IPO price. Its institutional demand ratio was 388.84 to 1, and subscription deposits totaled about 1.02599 trillion won. Brokerage analysts cited concerns about AI investment stemming from CoreWeave in the United States. Elice Group later briefly recovered its IPO price, but on November 3 it closed at 57,000 won, down 6.7% from the previous day and still below the offer price.

Lablup is an AI infrastructure management company whose main product, Backend.AI, supports GPU resource management, model training and inference, and service operations. First-half revenue was about 4.8 billion won, up 58.2% from the same period a year earlier, while operating profit was about 600 million won. Last year, recurring revenue accounted for 94.7%, and net revenue retention (NRR) was 131.9%. CEO Shin Jeong-gyu said the company would prove its value through tangible business results after listing.

Lablup closed at 14,220 won on November 3, its first day on KOSDAQ, 25.16% below its IPO price of 19,000 won. The stock initially climbed 49.2% above that price to 28,350 won, then fell as selling emerged, reaching 13,310 won at one point, about 30% below the IPO price. It finished 4,780 won below the offer price.

Trading volume reached 37.32 million shares, 17 times the 2.18 million shares offered. At the closing price, Lablup's market capitalization was 207.1 billion won, about 70 billion won less than the 276.8 billion won projected at the IPO price. Earlier, institutional demand was 284.53 times the shares available, but the IPO price was set at the bottom of the 19,000–22,000 won range.

Elice Group, which listed on October 20, also finished its first day at 61,500 won, 32% below its 90,500 won IPO price. Its institutional demand ratio was 388.84 to 1, and subscription deposits totaled about 1.02599 trillion won. Brokerage analysts cited concerns about AI investment stemming from CoreWeave in the United States. Elice Group later briefly recovered its IPO price, but on November 3 it closed at 57,000 won, down 6.7% from the previous day and still below the offer price.

Lablup is an AI infrastructure management company whose main product, Backend.AI, supports GPU resource management, model training and inference, and service operations. First-half revenue was about 4.8 billion won, up 58.2% from the same period a year earlier, while operating profit was about 600 million won. Last year, recurring revenue accounted for 94.7%, and net revenue retention (NRR) was 131.9%. CEO Shin Jeong-gyu said the company would prove its value through tangible business results after listing.