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Gaming firm Razer rises 18 percent in Hong Kong debut, rides tech boom

Reuters  |  HONG KONG 

By Sumeet Chatterjee and Donny KwokHONG KONG (Reuters) - Shares in Razer Inc, backed by Intel Corp and Hong Kong billionaire Li Ka-shing, surged 18 percent in their Hong Kong stock market debut on Monday, amid growing retail demand for new technology stocks in the Asian financial hub.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 Razer stock opened at around HK$5 on Monday and extended its gains to as much as HK$5.49 in early trade, ...

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First Published: Mon, November 13 2017. 20:31 IST