Gaming accessories and hardware firm Razer has officially revealed its intention to float on the Hong Kong Stock Exchange.
Word comes by way of Business Wire, in which the company says a total of 1.063bn primary shares are being offered. 957,240,000 of these are going to be international offer shares, while the remaining 106,360,000 shares are Hong Kong Public Offering shares.
Razer is currently expecting an offer price of between HK$2.93 and HK$4.00 per share (that’s roughly $0.38-$0.51). If these shares sell at full price, Razer is looking at a $550m valuation.
The release also provides a good overview of Razer’s business; the firm claims it has sold 27.5m connected devices and since the start of calendar year 2014 it has sold more than $1bn in hardware.
“Our mission from day one has been: ‘For Gamers. By Gamers,” CEO and co-founder Ming-Liang Tan said.
“Today, we are the world’s leading lifestyle brand for the 2.2 billion gamers worldwide and we continue to disrupt the gaming industry with the Razer ecosystem of hardware, software and services.
“We have built a truly unique business and our Global Offering will allow us to raise capital to continue innovating, invest in cutting-edge R&D and focus on designing and engineering the competitive edge, the immersive experiences and access to digital content for gamers worldwide.
“Most importantly, our public offering represents a milestone for us to take our motto to the next level. This will be a truly incredible opportunity for the Razer fans, gamers all over the world and those passionate about the gaming community to become owners and shareholders of Razer, and to join us on our mission – For Gamers. By Gamers.”
In July, there were reports that Razer was going to do an IPO with a reported valuation of $5bn.