Razer will once again be a private company

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Razer, the gaming peripheral maker, started out as a private company. It went public in 2017 and was listed on the Hong Kong Stock Exchange with its stock code 1337. Now it is going private again, following a recent shareholder vote.

As announced by the company’s CEO, Min-Liang Tan, the privatization of Razer was approved by the company’s shareholders with 94.74% of votes in favor of the privatization. “We look forward to growing our ecosystem of hardware, software and services into our next phase as a private company,” he added. Although it’s not exactly clear what that would actually mean for the brand’s customers.

Late last year, Razer announced that a group of its top executives, including CEO Min-Liang Tan and non-executive director Kaling Lim, had offered to take the company private. The two of them owned 57% of the company at the time. The reason given for wanting to become a private company again was the low volume of transactions, which made it undervalued.

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With shareholders approving the privatization of Razer, it will be delisted in mid-May this year. This comes almost immediately after Twitter’s board approved the takeover by Elon Musk at $54.20 per share, for a total of $44 billion (~RM191.51 billion).

(Source: Min-Liang Tan / Facebook, Asia-Pacific Investor Relations [PDF])


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