Razer shares will move after offer for privatization

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Razer Co-Founder, CEO, and Executive Director Tan Min Liang at a press conference on Admiralty’s proposal to list Razer at JW Marriott Hotel Hong Kong.

Dixon Lee | South China Morning Post | Getty Images

Razer Shares fell more than 8% on Thursday after a consortium, including co-founder Tan Min-Liang, proposed to keep a Hong Kong-listed gaming hardware company private.

The consortium, including private equity firm CVC Capital Partners, has offered to pay up to HK $ 10.79 billion ($ 1.38 billion) to purchase all remaining shares. According to the submission to the regulatory agency..

As part of the transaction, the Group will purchase these shares for HK $ 2.82 per share. That’s a 5.6% increase based on Wednesday’s Razer closing price.

According to the company, the offer price is final and will not be raised.

Razer, which manufactures laptops, PC peripherals, and other products for gamers. Published in 2017 The initial public offering price is HK $ 3.88 per share.

In the short term, stocks traded above HK $ 4, but failed to maintain that level.

Razer said in a regulatory filing that institutional investor participation was relatively low and that prolonged transaction liquidity had a negative impact on stock prices.

Founded in 2005, Razer is headquartered in Irvine, California, but also has regional headquarters in Shanghai, Singapore and Hamburg, Germany.

Credit Suisse is a financial adviser to the proposed transaction.

Razer shares will move after offer for privatization

Source link Razer shares will move after offer for privatization

The post Razer shares will move after offer for privatization appeared first on Eminetra.

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