Razer raises $500 million from IPO on Hong Kong Exchange

Razer raises $500 million from IPO on Hong Kong Exchange

Razer has raised $500 million from its IPO on the Hong Kong exchange on November 13th 2017.

As reported by CNBC, the company listed its shares at an initial price of $0.50 a share. This price then rose by around 40% mere minutes after the company began trading.

The figure fell rapidly shortly thereafter, but still stayed above the initial price. By the end of trading on its first day, Razer's share price was $0.59.

Falling short

The amount raised is slightly below reported expectations. Razer itself had suggested it could raise as much as $550 million from its IPO, while a recent report indicated it would be $528 million.

Razer filed for an IPO on the Hong Kong Exchange back in July 2017. It was suggested at the time that the company could raise up to $600 million.

It is now gearing up to launch its gamer-focused smartphone, the Razer Phone. The new device is due to launch on November 17th.

Deputy Editor

Ric has written for for as long as he can remember, and is now Deputy Editor. He likes trains.


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