An esports club watching profits crater while revenue climbed wants public investors, though not back home. DRX, the South Korean outfit fielding League of Legends, VALORANT, and Tekken rosters, is angling for a Singapore Exchange listing.
Groundwork is already moving, with an early review stage running ahead of the preliminary filing. Some Singapore financial firm nobody has named handles lead underwriter duties, propped up by securities houses back in Korea.
Numbers sit blank across the board. Valuation, share count, capital raised, market cap once trading opens, every figure waits until reviewers finish their pass.
This makes attempt number two, by the way. KOSDAQ was the original destination, with Daishin Securities lined up to underwrite, which would have made DRX the first Korean esports company trading publicly. That plan died quietly, hence the pivot toward Singapore instead.
ATU Partners keeps majority control after buying the organisation outright, running the stake through its ATU eSports Growth Fund No. 1, billed as Asia's first vehicle built purely around esports. A sponsorship tie-up with Seoul-based Kiwoom Securities landed recently as well.
Groundwork is already moving, with an early review stage running ahead of the preliminary filing. Some Singapore financial firm nobody has named handles lead underwriter duties, propped up by securities houses back in Korea.
Numbers sit blank across the board. Valuation, share count, capital raised, market cap once trading opens, every figure waits until reviewers finish their pass.
This makes attempt number two, by the way. KOSDAQ was the original destination, with Daishin Securities lined up to underwrite, which would have made DRX the first Korean esports company trading publicly. That plan died quietly, hence the pivot toward Singapore instead.
ATU Partners keeps majority control after buying the organisation outright, running the stake through its ATU eSports Growth Fund No. 1, billed as Asia's first vehicle built purely around esports. A sponsorship tie-up with Seoul-based Kiwoom Securities landed recently as well.
