Singaporean online gaming and e-commerce firm Sea Ltd. has raised about US$6 billion ($8.06 billion) in a sale of US shares and convertible bonds, in the biggest ever equity offering by a Southeast Asian company.
Sea priced 11 million American depositary shares at US$318 each, according to a statement, raising about US$3.5 billion and confirming an earlier Bloomberg News report. The share price represents a discount of about 1.4% to the Tencent Holdings Ltd.-backed company’s last close of US$322.60 in New York.
The share offering includes a potential overallotment which, if exercised, would increase its size to about US$4 billion. It would be the largest share sale by a Southeast Asian firm since Singapore Telecommunications Ltd.’s US$1.8 billion sale in 1996, according to data compiled by Bloomberg.