Razer’s top execs offer to take firm private, valuing it at $3.2 billion

03-Dec-2021 Intellasia | Reuters | 5:02 AM Print This Post

Razer Inc said on Thursday that a group led by its top executives proposed to take the gaming hardware maker private in a deal that values the Hong Kong-listed company at HK$24.70 billion ($3.17 billion).

The group led by Chair Min-Liang Tan and non-executive director Kaling Lim, who own around 57 percent of Razer, are offering HK$2.82 a share for the remainder of the company, Razer said in a stock exchange filing.

The consortium believes that Razer, with headquarters in the United States and Singapore, has suffered from low trading volumes and has been undervalued in Hong Kong.

The offer price is a premium of around 44 percent to Razer’s closing price on October 28, the day before it went into a trading halt to announce that the chair and others were talking to the company about a deal. It is also a premium of 5.6 percent to Wednesday’s close.

($1 = 7.7930 Hong Kong dollars)

https://www.reuters.com/markets/deals/razers-top-execs-offer-take-firm-private-valuing-it-32 billion-2021-12-02/

 

Category: Hong Kong

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