Gaming Hardware Company Seeks Secondary Listing In US: CNBC

  • Gaming hardware company Razer Inc RAZFF harbors secondary listing ambitions in the U.S., CNBC reports as per CEO Min-Liang Tan.
  • The laptop and PC peripheral manufacturer for gamers was founded in the U.S., where it's making most of its revenue. It is also heavily investing in software and services.
  • Hong Kong-listed Razer's first-half revenues jumped 68% to $752 million in 2021 as the lockdown led to the surge in gaming. Razer also turned to a net profit of $31.3 million in the first six months of 2021.
  • The vast majority of business is out of the U.S., followed by Europe and then Asia, primarily driven by sales in China. 
  • Razer recently shut down its electronic wallet Razer Pay to focus on B2B for the fintech business and B2C, referring to the virtual credits for the Razer Gold business.
  • Tan remained tightlipped about exploring crypto and bitcoin prospects.
  • On the gaming front, Microsoft Corp MSFT is targeting a cloud gaming debut this holiday season. Chinese regulatory crackdown prompted gaming giant  Tencent Holdings Ltd TCEHY to focus on overseas expansion and game streaming.

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