On November 13, Thundersnake was officially listed in Hong Kong. Thundersnake issued an issue price of HK $388 per share, issued 1.063 billion shares and raised HK $3.931 billion. Today, it opened at HK $5.12, up 31.96% from the issue price, with a total market value of more than HK $45 billion. Thundersnake Group received 227600 valid applications and subscribed a total of 30.977 billion Hong Kong issued shares.
Razer Phone
The raised HK $3.931 billion is expected to be divided into:
About 25% is expected to be used in the fields of mobile equipment, audio and video technology, live broadcast and broadcasting technology and services, and electronic transaction related service lights;
About 25% is expected to be used to fund the acquisition of the ecosystem to continue to expand in the future;
About 20% is expected to be used to improve R&D strength;
About 20% is expected to be used to implement sales and marketing plans, including zGold, a virtual credit score service, and other products;
About 10% is expected to be used for general working capital purposes.
Razor was founded in 1998. Although it is a famous hardware peripheral factory, more than 90% of its revenue mainly comes from hardware, including peripheral equipment and computer systems. In the first half of this year, the hardware sales revenue accumulated 195 million dollars, and the software and service revenue contributed 110000 dollars. In recent years, Thundersnake has successively launched its own game notebook and game mobile phone series, both of which have gained good reputation. In 2015 and 2016, it lost 20.36 million US dollars and 59.41 million US dollars respectively. ICBC International has published a report which pointed out that Razor's revenue will increase by 31.4% to 66.1% this year and in the next two years. It is expected to record a profit of 12.64 million US dollars next year, and it is expected to earn 60.56 million US dollars in 2019, an increase of 3.79 times on an annual basis.
Public shareholders include YONG XIANG CAPITAL, an investment company under IDG Accel (3.6%), Redmount Ventures, an investment company under Li Ka shing (1.29%), Middlefield Ventures, an investment company under Intel (0.34%), Strength Luck Limited, an investment company under Hon Hai Precision (0.32%), and BYD Electronics (0.1%).
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