Brief: Razer to raise $528m from next week’s IPO

Photo credit: Razer.

The news (extracted from Reuters):

• Razer, backed by Intel and Hong Kong’s richest man Li Ka Shing, has priced its initial public offering (IPO) at HK$3.88, which would raise HK$4.12 billion (US$528 million) for the company.
• The gaming hardware firm earlier said it was offering 1.063 billion primary shares on the Hong Kong Stock Exchange in an indicative range of HK$2.93 to HK$4.00 each.
• The November 13 IPO is projected to value the company at over US$4 billion.

Why it matters:

• Razer is based in California and Singapore, and founded by Singaporean Min-Liang Tan. This means its IPO journey is being closely watched by Southeast Asia’s tech startup community. The public debut comes just a few weeks after Singaporean unicorn Sea’s US$884 million US IPO.
• Razer’s IPO performance will be an indicator of how bullish investors are toward the company’s prospects. The listing coincides with the launch of Razer’s first ever phone – an Android-powered device designed for smartphone gamers.