Razer eyes mainland with HK IPO
Print Edition
US-BASED lifestyle brand Razer intends to launch an initial public offering in Hong Kong with eyes on the Chinese market, the company said yesterday.
Razer also aims to go beyond just selling gaming gadgets by creating an “eco-system” strategy to embrace software and services, the company added.
Razer has filed an IPO application to the Hong Kong stock exchange, and boasts investors such as Intel, Hong Kong billionaire Li Ka-shing, and IDG-Accel. Media reports said the company may be valued at US$5 billion.
The Hong Kong IPO serves as a platform for Razer to venture into the mainland market which offers opportunities for “disrupter” companies like Razer, Chief Executive Tan Min Liang said in its office in Zhangjiang in Pudong New Area.
Presently, China makes up 13 per cent of Razer’s business. Currently, 50 per cent of its business is in the US market, 27 per cent in Europe and 23 percent in Asia.
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