Razer finally confirm Hong Kong IPO to raise $550 million

Razer finally confirm Hong Kong IPO to raise $550 million
Sean Cleaver

By Sean Cleaver

November 2nd 2017 at 5:06PM

The company first filed in July to go public and has now confirmed it will offer 1 billion shares

It may seem a bit drawn out, given the initial announcement was in July, but gaming peripheral and technology company Razer is finally set to go public. The IPO, if it performs as predicted, will make co-founder Tan Min-Liang a billionaire.

The offering is set to raise around $550 million for the company which is based in the US and Singapore and will offer over 1 billion shares at around the $0.38-$0.51 range after conversion from Hong Kong Dollars. The company has been producing gaming accessories for over twelve years, which accounts for over two-thirds of its revenue but it has recently started producing other technology.

The company purchased audio specialists THX in 2016 and has also been producing high-performance laptops. This week in London, the company also unveiled its first smartphone, the Razer Phone, which aims to provide high-end gaming experiences with specs that are closer to laptops than tablets.

The phone promises to have a 1440p resolution screen and 8GB of RAM and is available for around £700 and uses a slightly older version of the Android operating system. In addition to its products, Razer has taken a keen interest in esports, sponsoring several teams and players,