Gaming hardware maker Razer Inc is eyeing for a Hong Kong initial public offering that could value the company at as much as $5 billion.
Media reports suggest IPO could be launched by the end of 2017.
Here are some of the key aspects of the IPO:
- Razer, co-founded in 2005 by Singapore-born Tan Min-Liang, counts gaming hardware as its main source of revenue
- Razer -- which makes accessories from mice to laptops that bear a green tri-headed snake -- is backed by Intel Corp and Hong Kong billionaire Li Ka-shing
- Razer has priced its initial public offering at HK$3.88, near the top end of the range. The company is offering 1.063 billion primary shares in an indicative range of HK$2.93-HK$4.00 each, Reuters reported
- Razer, which sells products online and in chains like Best Buy across the U.S., wants to use Hong Kong as a beachhead from which to accelerate its expansion into China's $25 billion gaming market
- While the U.S. currently makes up around half of Razer's sales, the company has plans to do more in China, a market it already has exposure to through e-sports.