Yahoo Finance Razer to delist in May after getting shareholders' approval to go private
Razer first went public on the Hong Kong Stock Exchange in November 2017 with an IPO price of HK$3.88 per share.
An overwhelming majority of shareholders of Hong Kong Stock Exchange-listed Razer have voted in favour of the company going private.
According to a LinkedIn post by Razer founder and CEO Tan Min-Liang, the privatisation was approved after 94.74% of shareholders voted in favour of the scheme.
“I would like to thank our shareholders for their support of Razer as we expanded our unique gamer-centric ecosystem and market presence in recent years. We look forward to developing our ecosystem of hardware, software and services in our next phase as a private company,” Tan wrote in his post dated April 27.
Razer first announced its intention to privatise the company in December 2021. Co-founder Tan Min-Liang, as well as private equity firm CVC Capital Partners had made an offer to acquire the remaining 10.79 billion shares they do not own at HK$2.82 (49.42 cents) per share. Tan and Razer’s non-executive director Kaling Lim, hold nearly 57% of Razer’s shares collectively.
The offer price announced at the time was final.
The privatisation deal is expected to be completed in May. Razer will then be delisted from the Hong Kong Stock Exchange.
Razer first went public on the Hong Kong Stock Exchange in November 2017 with an initial public offering (IPO) price of HK$3.88 per share.
On its opening day, shares in Razer closed at HK$4.58, up 18% on its HK$3.88 list price.
Shares in Razer closed at HK$2.80 on April 27.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Get in-depth insights from our expert contributors, and dive into financial and economic trends
