Sea

Sea raises US$575 mil in convertible notes offering
SINGAPORE (June 19): Sea has completed its previously announced offering of US$575 million ($777 million) aggregate principal amount of 2.25% convertible senior notes due 2023. See: Sea mulls raising funds for e-commerce as quarterly loss triples To address investor demand, the company increased the offering size from an initial US$400 million to US$500 million, and a full exercise of a 15% ...
Sea mulls raising funds for e-commerce as quarterly loss triples
(May 16): Sea, operator of Southeast Asia’s biggest gaming platform, said it may raise funds to strengthen its balance sheet after its quarterly loss tripled on rising investments at mobile-shopping unit Shopee. The Singapore-based gaming and e-commerce company said its net loss during the three months ended in March was US$215.6 million, compared with US$73.1 million a year earlier. Total ...
Sea reports mounting losses, president Nick Nash to depart
SINGAPORE (Mar 1): Sea, operator of Southeast Asia’s biggest gaming platform, reported mounting losses amid investments for growth and said group president Nick Nash will leave his position at the end of the year. The Singapore-based company reported its net loss for the quarter ended in December more than tripled to US$263.1 million ($348.6 million), compared with analyst estimates that it ...
Shorts sellers square off with analysts over still in the red Sea
(Feb 27): Sea, operator of Southeast Asia’s biggest gaming platform, has had a rough start as a public company. The much-heralded Singapore-based company raised about US$1 billion ($1.3 billion) in an October initial public offering led by Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG. The shares have tumbled almost 20 percent since then and losses are widening. When ...
IPO boom feeds corporates. Will it benefit investors?
SINGAPORE (Dec 4): After a stellar performance in its first year as a publicly listed company, spray paint maker Samurai 2K Aerosol is raising more money at a valuation some five times above its IPO price. The Malaysian company, which makes coatings for the automotive industry, was the first to come to market this year and saw its shares jump 25% when it made its Jan 16 debut on Catalist. The ...
Singapore's entrepreneurial scene looks less boring with spate of megadeals
SINGAPORE (Nov 30): Back in 2002, as the city-state was emerging from its worst recession since 1964, the government was getting impatient over the economy's disproportionate reliance on multinationals and a handful of globally competitive state-backed firms like Singapore Airlines. A panel on "entrepreneurship and internationalisation" noted that only 5% of Singaporeans ran their own ...
Sea investors look to first earnings since NYSE IPO for growth
(Nov 21): Sea pitched itself as an emerging growth company in last month’s initial public offering, and investors are about to get their first chance to see if it lives up to the billing. The Singapore-based company will release its first financial report Wednesday, with sales expected to reach US$94.5 million ($128.2 million) in the three months ended September, according to the average of ...
Life could get choppy for Sea after US$1 bil IPO
HONG KONG (Sept 25): Listed life can be rough. Sea, a Southeast Asian startup formerly known as Garena, has filed for a US initial public offering of up to US$1 billion ($1.35 billion). But larger deep-pocketed rivals are ramping up competition. An IPO at this stage could make the fight to come harder. See: Sea, former Garena, files for NYSE IPO Backed by Chinese internet giant Tencent, Sea ...
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 ...
Is the electronic games industry too big for its own good?
SINGAPORE (July 7): Every year in mid-June, a who’s who of the electronic entertainment and video game industry, from makers of consoles to game developers, descend on Los Angeles, the entertainment capital of the world and home to Hollywood, for E3, the annual games conference and exhibition. CEOs of Sony, Microsoft and Nintendo Co rub shoulders with creators of games such as Angry Birds, ...