ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

Gaming firm Razer rises more than 40 percent in Hong Kong debut

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Shares in Razer Inc, backed by Intel Corp and Hong Kong billionaire Li Ka-shing, surged as much as 42 percent in their Hong Kong stock market debut on Monday, amid growing retail demand for new technology stocks.

Razer said last week it raised about HK$3.9 billion ($500 million), excluding underwriting and other expenses, after pricing the IPO of 1.063 billion primary shares near top of the HK$2.93-HK$4.00 range.

The Razer stock opened at around HK$5 on Monday and extended its gains to as much as HK$5.49 in early trade, posting a gain of 41.5 percent compared to its IPO price of HK$3.88 per share and giving it a market value of HK$48.9 billion ($6.3 billion).

By 0203 GMT, the stock was trading at HK$4.74.

The company`s strong debut is the latest in a string of stellar listings by technology-based companies in Hong Kong, with strong interest from retail investors.

Last week, Tencent`s e-book unit China Literature Ltd saw its shares surge more than 80 percent in their debut, as Hong Kong investors embrace a rush of tech listings.

Shares in ZhongAn Online Property & Casualty Insurance Co jumped 18 percent in their debut in September, after the company raised $1.5 billion in Asia`s biggest-ever financial technology IPO.

The excitement surrounding such offerings bodes well for expected listings from other fintech giants in Hong Kong, including Alibaba affiliate Ant Financial and peer-to-peer lending and wealth management platform Lufax.

Underscoring the demand for technology issues, the retail portion of the Razer IPO gathered demand that was 291.24 times the number of 106.36 million shares on offer, the company said on Friday.

The company, which is headquartered in Singapore and the United States, was founded in 2005 by Min-Liang Tan and Robert Krakoff and has grown from producing a gaming mouse as its initial product to manufacturing laptops worth almost $4,000.

It plans to use the IPO proceeds to develop new verticals in the gaming and digital entertainment industry, including mobile devices, audio visual technology and live-streaming, as well as to fund acquisitions as it expands its ecosystem.

($1 = 7.8009 Hong Kong dollars)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Mon, Nov 13, 2017
09:51 am
Reuters
RELATED NEWS
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?
Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta
India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla

LATEST NEWS

New Vande Bharat Express train in Maharashtra - Check route | Indian Railways

Closing Bell: Sensex surges 900 points, Nifty over 240 points as banks take control of D-Street

What is ASM framework in stock market and how it affects traders? Explained

Valentine Week 2023 List: Dates, Wishes, Quotes, Messages, Greetings to share on WhatsApp and Facebook

Govt expects 'fabulous' response to revamped I-T regime: CBDT chief

Pathaan Box Office Collection Day 8: Shah Rukh Khan-starrer collects over Rs 660 crore worldwide | Check OTT release date here

DIVIDEND STOCK: Tide, Pampers maker announces 800% dividend - check ex date, record date and payment date

Sanjiv Bhasin strategy, stocks today: Buy Titan and Reliance Industries shares - check price targets

OPPO Reno8 T 5G with curved screen, 108MP camera launched at Rs 29,999 - Check discounts, exchange offers and other details

Buy BEL shares, price target Rs 125: ICICI Securities

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV