South Korea's Elice Shares Surge 30% After Weak Market Debut

South Korean data centre firm Elice saw its shares jump 30% to 79,900 won in Wednesday's trade, rebounding from a slump during its market debut on Tuesday.

The neocloud service provider previously listed at a steep 33% discount to its IPO price of 90,500 won despite raising about $151 million in the exchange's largest IPO of the year.

The recovery offered relief to retail investors who heavily oversubscribed the retail portion of the offering amid strong interest in the company's first-half revenue surge.