Post by account_disabled on Nov 13, 2017 14:07:34 GMT
Razer has continued a winning streak of IPOs from Asian companies after its share price surged as much as 41 percent up on its first day of trading on the Hong Kong Stock Exchange.
The company, which makes accessories for PC gamers, laptops and is preparing to sell its first smartphone, raised $529 million from the sale of 1,063,600,000 shares. After deductions, Razer estimated its take-home to be around $504 million.
The offering was massively over-scribed, to the point that Razer restructured the listing to offer more shares to local retail investors in Hong Kong. The final mix was 50-50 between local and global shares.
The listing follows the wildly successful Hong Kong IPO for Tencent-backed China Literature, which raised over US$1 billion last week and saw shares jump 86 percent after its first day of trading, and Chinese search engine Sogou which went public on the New York Stock Exchange.
Razer said in its initial prospectus that it plans to invest the capital raised on R&D and new products. Already it has expanded into smartphones, audio equipment, and payments via acquisitions. The company released details of its first phone in recent weeks which will begin shipping November 17.
The U.S.-Singapore company makes three-quarters of its revenue from selling accessories like mice, headphones and keyboards for gamers, but it plans to introduce software services and push its other hardware products.
For more you can check
explainer video
The company, which makes accessories for PC gamers, laptops and is preparing to sell its first smartphone, raised $529 million from the sale of 1,063,600,000 shares. After deductions, Razer estimated its take-home to be around $504 million.
The offering was massively over-scribed, to the point that Razer restructured the listing to offer more shares to local retail investors in Hong Kong. The final mix was 50-50 between local and global shares.
The listing follows the wildly successful Hong Kong IPO for Tencent-backed China Literature, which raised over US$1 billion last week and saw shares jump 86 percent after its first day of trading, and Chinese search engine Sogou which went public on the New York Stock Exchange.
Razer said in its initial prospectus that it plans to invest the capital raised on R&D and new products. Already it has expanded into smartphones, audio equipment, and payments via acquisitions. The company released details of its first phone in recent weeks which will begin shipping November 17.
The U.S.-Singapore company makes three-quarters of its revenue from selling accessories like mice, headphones and keyboards for gamers, but it plans to introduce software services and push its other hardware products.
For more you can check
explainer video
