As it eyes China for growth potential, Singapore gaming hardware maker Razer is planning to list in Hong Kong.
Working out of California as well as Singapore, Razer has made a preliminary filing with the Hong Kong Stock Exchange (HKSE) with Credit Suisse and UBS are joint sponsors.
Founded in 2005 with former lawyer Min-Liang Tan as chief executive, the company is expecting to raise US$400 million from its IPO.
Last month, Razer opened its first Hong Kong flagship retail store in Causeway Bay in partnership with mobile phone company 3.
Razer last year posted a loss of $59.7 million, up from $20.4 million in 2015, according to details in a draft prospectus filed with the HKSE. However, its revenues were $392 million last year, up from $320 million.
Meanwhile, the company plans to introduce new product lines and services to help diversify its revenue base. It says it plans to support the cloud-based Robin smartphone and has spent $52.2 million on R&D units in Chengdu, San Francisco, Shenzhen, Singapore and Taiwan.
Over the past few quarters Razer has had several investment rounds, as well as acquisitions.