Razer raises $500M from debut on Hong Kong stock exchange

Video game hardware giant Razer has raised roughly $500 million from its debut on the Hong Kong stock exchange. 

As reported by CNBC, the company went public earlier today and offered up around 1.06 billion primary shares. 

Individual shares were trading at around $0.60 by the afternoon, more than 20 percent higher than the company's original issue price. 

Razer CEO Min-Laing had previously stated that going public would give the peripheral maker a "war chest" to make further investments in research and development. 

He also claimed the cash could be used to create new products, such as the $700 high-performance, game-focused Razer smartphone, which was unveiled at the end of October.