November 13, 2017 / 1:28 AM / a year ago

Gaming firm Razer set to open up 32 pct in Hong Kong debut

HONG KONG, Nov 13 (Reuters) - Shares in Razer Inc, backed by Intel Corp and Hong Kong billionaire Li Ka-shing, were set to open 32 percent higher in their Hong Kong market debut on Monday, amid growing retail investors demand for new technology stocks.

Razer said last week it raised about HK$3.9 billion ($500 million), excluding underwriting and other expenses, after pricing the IPO of 1.063 billion primary shares near top of the HK$2.93-HK$4.00 range.

The stock was set to open at HK$5.12 on Monday, compared to the IPO price of HK$3.88 per share.

Razer’s stock listing comes days after Tencent’s e-book unit China Literature Ltd saw its shares surge more than 80 percent in their debut, as Hong Kong investors embrace a rush of tech listings.

$1 = 7.8009 Hong Kong dollars Reporting by Sumeet Chatterjee and Donny Kwok; Editing by Stephen Coates

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