Razer’s top executives offer to buy the company privately, valuing it at $3.2 billion

Razer CEO Tan and non-executive director Lim pose during the company launch in Hong Kong
FILE PHOTO: Min-Liang Tan (L), co-founder and CEO of Razer, and Kaling Lim, non-executive director, pose during the company’s launch at the Hong Kong Exchanges in Hong Kong, China , November 13, 2017 . REUTERS / Bobby Yip

December 2, 2021

(Reuters) – Razer Inc said on Thursday that a group led by its top executives has proposed privatizing the gaming hardware maker in a deal to value the U.S.-listed company. Hong Kong at HK$24.70 billion ($3.17 billion).

The group led by Chairman Min-Liang Tan and non-executive director Kaling Lim, who owns around 57% of Razer, is offering HK$2.82 a share to the rest of the company. , Razer said in a stock exchange filing.

The Group believes that Razer, with headquarters in the United States and Singapore, has been affected by low trading volume and undervalued in Hong Kong.

The asking price is about 44% higher than Razer’s closing price on October 28, the day before it halted trading to announce that the chairman and others were talking to the company about a deal. favorable. It is also a premium of 5.6% at the end of Wednesday.

(1 dollar = 7.7930 Hong Kong dollars)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Muralikumar Anantharaman and Rashmi Aich) Razer’s top executives offer to buy the company privately, valuing it at $3.2 billion

Caroline Bleakley

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