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Report: Razer IPO set to raise $528 million

Priced towards the high-end of its range

Report: Razer IPO set to raise $528 million

Singapore-based Gaming peripherals and hardware maker Razer has priced its initial public offering towards the high-end of its range, according to a report.

The International Financing Review claims the IPO, set to take place on the Hong Kong Stock Exchange, has been priced at HK$3.88 per share. This means the company stands to raise around USD$528 million from its flotation.

Razer previously announced its intention to offer 1,063,600,000 shares at a range of HK$2.93 to HK$4.00 (roughly USD$0.38 to USD$0.51).

Big business

Razer claims to have sold 27.5 million connected devices, generating the company more than $1 billion in sales since the start of 2014.

Last week the firm officially unveiled its brand new high-end Android-powered smartphone the Razer Phone.

Mainly targeted at the games market, the move signals Razer’s first step into the highly competitive mobile manufacturing space.

To support its efforts the company has signed a deal with Three as the exclusive launch mobile carrier in the UK, Ireland, Denmark and Sweden.

Razer has also partnered with developers including Square Enix and Tencent to optimise their games for the device.

The Razer Phone is set to go on sale on November 17th 2017.


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Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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