American Depositary Shares

Tencent-backed Sea to raise US$1.35 bil in US share sale

(Mar 6): Sea, operator of Southeast Asia’s biggest gaming platform, has raised US$1.35 billion ($1.83 billion) after increasing the size of a follow-on stock offering.

The Singapore-based internet company sold 60 million American depositary shares at US$22.50 each, or about a 6.5% to its last close in New York. An affiliate of Tencent Holdings as well as a separate firm linked to one of Sea’s directors are expected to buy 6.3 million of those shares at those terms, Sea said in a statement.

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.

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