(Yicai Global) Nov. 13 -- Shares of top US computer game device maker Razer Inc. [HK:1337] rose more than 30 percent at open on its initial trading day today in the first eSports concept stock to debut in Hong Kong.
The issue price of Razer was HKD3.88 (USD0.584) per share and the issue was 1.063 billion shares. The price went up 31.96 percent at open to HKD5.12 per share, followed by a dip to HKD4.77 -- still more than 20 percent higher -- to put the company’s valuation at over HKD45 billion.
Singaporean Min-Liang Tan founded Razer in the US state of California in 1998. Its main business is developing specialized computer devices used in eSports, including laptops, mice, keyboards, headphones and mouse pads. eSports are those that, like video games, rely on electronic media.
Its investors include Intel Corp. [NASDAQ:INTC], Taiwan-based electronics maker Foxconn Technology Group [TPE:2354] and Li Ka-shing, Hong Kong’s richest person.