PC peripherals-maker Razer hopes a new IPO will raise the company's valuation to as much as $5 billion.
After 12 years of being private, Razer currently plans to go public with its shares with an IPO. The company will open its shares in an initial public offering in Hong Kong, China, this October, sources familiar with the matter tell Bloomberg. The Singapore-founded American company is most known for its vibrant PC gaming products including keyboards, mice, and headsets, as well as premium-priced laptops like the Razer Blade.
With its IPO, Razer aims at a valuation of anywhere between $3 billion and $5 billion. Sources say the launch in Hong Kong is no mistake: the company is pursuing China's massive $27 billion games market, which is largely set on the mobile games segment. The company has already made its mark within the massively lucrative region with its first retail store based in Hong Kong.