Elice shares drop significantly in Seoul market debut

• Elice shares sank more than 30% in Seoul, following its initial public offering (IPO).
• The Seoul-based neocloud service provider raised 201 billion won ($151 million) in the Kosdaq's largest IPO this year.
• South Korea's Elice shares plunged 28% in market debut, reflecting investor concerns about data center stocks.
• The drop in Elice's share price adds to rising concerns about the valuations of AI-related companies.
• The IPO is seen as a test of investor resolve in the AI sector following recent market turbulence.