Several Razer executives join forces to turn the company private

The manufacturer of gaming hardware and peripherals Razer could become a private company, if the rumors that according to Reuters suggest that a group of company executives has a plan for this. If the plan is carried out, Razer’s valuation could skyrocket up to 4.5 billion of dollars.

Its shares have traded during the past month at an average of $ 0.267 on the Hong Kong stock exchange, although a group of company executives, led by the Razer President Min-Liang Tan, and one of its directors, Kaling Lim, who add up to 60% of the company’s shares, are willing to offer almost double this amount for all of them. This decision, it seems, is because managers believe that Razer has been undervalued in Hong Kong, as there is more importance given to companies from mainland China.

In a communication to the Hong Kong regulatory authorities presented this week, the company cited its board, which stated that there was no certainty that the operation would be carried out, that the offer price was not fixed and that it was not no firm decision had been made in this regard. This was not an impediment for Razer shares to rise 11.5% on the news of the presentation of this communication, after they rose 23% the day before, when rumors began to circulate.

Razer, which is headquartered between the United States and Singapore, became a public company in 2017, when it began trading on the Hong Kong Stock Exchange, where it has the market identifier 1337. For now, its Those responsible have not wanted to make any comment about this rumor of turning the company private and taking it off the stock market.

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