Gaming hardware maker Razer seeks Oct HK IPO at up to $5 billion valuation: source

Reuters News
Posted: Jul 12, 2017 4:46 AM

HONG KONG (Reuters) - Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka-shing, plans to go public toward the end of October in an IPO that will value the company at up to $5 billion, a person familiar with the deal said on Wednesday.

The company is considering a valuation range of between $3 billion to $5 billion, with a final decision on the size of IPO and its overall value depending on market conditions at the time of the deal, added the person, who couldn't be named because details of the transaction aren't public.

Razer filed for the IPO late last month in a deal that Thomson Reuters publication IFR said could raise around $400 million.

Razer declined to comment.

(Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman)