Sea, former Garena, files for NYSE IPO

SINGAPORE (Sept 23): Sea, the internet company formerly known as Garena, is readying itself for an initial public offering (IPO) in the US.

On Saturday, the company announced it has filed a registration statement with the US Securities and Exchange Commission for a proposed IPO of its American Depositary Shares representing Class A Ordinary Shares.

Although the number of shares to be offered and the price range for the offering have yet to been determined, Sea was valued at US$3.75 billion after a March 2016 funding round.

This company has its game face on for new frontiers

SINGAPORE (Nov 18): This year, a newcomer joins the ranks to capture a slice of the online shopping pie: Shopee, powered by Southeast Asia’s most valuable start-up, Garena.

There are about 1.5 million registered sellers on Shopee, while 70% of the user base comprises repeat customers. Garena recently raised US$170 million in Series D funding to help Shopee grow in Southeast Asia. During its inaugural 9.9 Mobile Shopping Day sale this year, orders increased fivefold.

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