DRX readies to become the first Korean e-sports name to go public in Korea

South Korea’s professional e-sports company DRX is set to become the first e-sports to go public on the Kosdaq.

DRX announced on Wednesday that it selected Daishin Securities as the lead underwriter for its IPO.

DRX operates pro e-sport teams for four games: League of Legends (LoL), Valorant, Warcraft III, and Tekken 7.

The DRX LoL team came in first twice and won second place once in the domestic LoL tournament and finished second in the Mid-Season Invitational (MSI), the second most important international LoL tournament organized by Riot Games.

DRX qualified for the annual crowning tournament of LoL esports – the 2022 World Championship – as the fourth seed.

League of Legends Champions Korea (LCK) League is sending four teams to Worlds this year with the winner of the first Summer Season competing as the first seed, the team with the most championship points the second seed, and the two finalists of the regional qualifier the third and fourth seed.

DRX defeated Liiv SANDBOX to take the last spot to qualify for this year’s Worlds which will begin on September 29.

Meanwhile, the DRX Valorant team is representing Korea as it takes part in the 2022 Valorant Champions – a Turkish tournament hosted by Riot Games – which will end on September 18. DRX has so far advanced to the playoffs with the top eight teams.

“I hope our IPO scheme can inspire other e-sports companies to follow suit for positive influence over the industry,” said Choi Sang-in, the CEO of DRX.

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