Razer, the gaming peripheral maker, started out as a private company. It went public in 2017, getting listed in the Stock Exchange of Hong Kong with its 1337 stock code. Now it’s going private again, following a recent shareholder vote.
As company CEO Min-Liang Tan announced, the privatisation of Razer has been approved by the company’s shareholders with 94.74% of votes in favour of privatisation. “We look forward to developing our ecosystem of hardware, software and services in our next phase as a private company”, he added. Though it’s not exactly clear what this would actually mean for customers of the brand.
Late last year, Razer announced that a group of its top executives, including CEO Min-Liang Tan and non-executive director Kaling Lim, have offered to take the company private. The two of them owned 57% of the company at the time. The reason stated for wanting to return to being a private company was low trading volumes resulting in being undervalued.
With the stockholders having approved the privatisation of Razer, it will be delisted in mid May of this year. This come almost immediately after the board of directors at Twitter approved the buyout by Elon Musk at US$54.20 a share, totalling US$44 billion (~RM191.51 billion).