FILE PHOTO: Min-Liang Tan (L), co-founder and CEO of Razer, and Kaling Lim, non-executive director, pose during the debut of the company 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 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 Chairman Min-Liang Tan and non-executive director Kaling Lim, who own around 57% 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% to Razer’s closing price on Oct. 28, the day before it went into a trading halt to announce that the chairman and others were talking to the company about a deal. It is also a premium of 5.6% to Wednesday’s close.
($1 = 7.7930 Hong Kong dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Muralikumar Anantharaman and Rashmi Aich)
Source: One America News Network
