It appears as if Razer is planning to go private as shareholders of the company voted to delist from the Hong Kong stock exchange in a privatization deal that would value the company at $3.17 billion. The privatization is being led by Razer co-founders Tan and Kaling Lim who currently own 57% of the company along with private equity firm CVC Capital Partners.
The privatization plan was approved by over 75% of shareholders in a recent general meeting. Razer will withdrawal its shares from the Hong Kong stock exchange at 9AM on May 13th 2022.
The private ownership of the company is not expected to last long however as the owners are planning the relist the company’s shares in the US for a higher valuation. Razer posted revenues of $1.62 billion in the 2021 FY, which is up 33% from the previous year.