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

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 revenue rose 65% to US$155 million.

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 would lose US$201 million, while total revenue climbed 41% to US$124.6 million, according to generally accepted accounting principles.

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.

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 company had placed out 20 million shares at 20 cents each, to raise net proceeds of $2.35 million.

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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 companies, versus 12% in the US. Then-finance minister and future Prime Minister Lee Hsien Loong vowed to end red tape and allow new structures like limited partnerships.

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 analysts’ estimates, as the company builds on its core games business.

That’s a 4.4% increase from a year earlier, according to data compiled by Bloomberg.

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

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.

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, Candy Crush Saga and Minecraft.

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