Singapore-founded gaming firm Razer to launch up to $750m HK IPO on Oct 30

Razer was founded in 2005 by Tan Min Liang and Robert Krakoff and has grown from producing a gaming mouse as its initial product to manufacturing laptops worth almost US$4,000.
Razer was founded in 2005 by Tan Min Liang and Robert Krakoff and has grown from producing a gaming mouse as its initial product to manufacturing laptops worth almost US$4,000.ST PHOTO: DESMOND FOO

HONG KONG (REUTERS) - Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka Shing, plans to launch on Monday (Oct 30) at up to US$550 million (S$750 million) Hong Kong initial public offering, IFR reported on Friday, citing people close to the deal.

The company, which is based in Singapore and the United States, will offer shares in an indicative range of HK$2.93 (S$0.51) to HK$4 each, added IFR, a Thomson Reuters publication.

Razer has secured US$150 million in commitments from cornerstone investors, including a US$20 million investment from Singapore sovereign wealth fund GIC Pte Ltd, IFR said.

Razer declined to comment, while GIC did not immediately reply to a Reuters request for comment.

The company was founded in 2005 by Tan Min Liang and Robert Krakoff and has grown from producing a gaming mouse as its initial product to manufacturing laptops worth almost US$4,000.

 
 

In 2016, it bought assets from a company previously known as THX Ltd, which was founded by George Lucas, and this year it acquired certain assets and intellectual property from mobile phone manufacturer Nextbit Systems.

The acquisitions are expected to help the company launch new products in coming years, including a mobile gaming device, a person familiar with Razer's plans previously told Reuters.