Razer Execs Move To Take Company Private
A group led by Razer’s top executives have proposed to take the hardware company private, in a deal that values the company at a cool A$4.47 billion.
Chairman Min-Liang Tan and non-executive director Kaling Lim lead the group, who currently own around 57 per cent of the company.
The consortium, which also includes private equity firm CVC Capital Partners, believe the company is being undervalued in Hong Kong where it is listed. Razer has headquarters in the United States and Singapore.
Razer shares slid nearly 8 per cent after the announcement. The shares were already in free fall, with the November price sitting at half of what it was in February.
The company netted a record net profit of A$44.1 million in the first half of 2021, propelled by the lockdown.
Likewise, as the world opens back up, shares plummet.