Sea Ltd

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 ...
A new billionaire emerges from Singapore gaming powerhouse Sea
(March 1): Free Fire is a world unto itself. More than 40 million players log on each day to find weapons and battle it out till one character’s left standing. It’s Sea’s marquee hit, a virtual landscape housing more people than the American population and the prime reason Chinese-born founder Forrest Li is climbing the real world’s wealth rankings. The 41-year-old entrepreneur owns ...
Sea investors, stick to your (accounting) principles
SINGAPORE (Feb 27): Net-off revenues, employee share compensation, fair value of convertible notes, deferred revenues. Sea offers many reasons why you should maybe ignore the standard way businesses report their financial results and focus instead on the Southeast Asian internet company’s preferred method. To be fair, the Singapore-based and US-listed company isn’t hiding its numbers ...
Sea loss widens on investment in Shopee e-commerce platform
(Aug 22): Sea Ltd., operator of Southeast Asia’s biggest gaming platform, posted a wider quarterly loss as it invests in building up e-commerce platform Shopee. The net loss was US$250.8 million ($342.8 million) in the three months ended June compared with a loss of US$92.1 million a year earlier, Singapore-based Sea said in an emailed statement. Total revenue at the company rose to US$183.8 ...
Rocky waters ahead for Sea as share price drops 3 days in a row after IPO
(Oct 26): Sea shares fell for the third day in a row and dropped below their initial public offering price, a rocky start as a public company for the Singapore games startup. Sea’s stock slipped 9.9% in New York trading Wednesday to close at US$13.73 ($18.69). The company sold shares to investors at US$15 and they rose 8.4% in its first day of trading last week. Investors may be skittish ...
Sea selling shares at US$15 each in NYSE IPO
(Oct 20): Singapore’s Sea plans has priced its initial public offering of nearly 59 million American depositary shares at US$15 each to raise US$884 million ($1.2 billion), according to a press statement by the company on Friday evening. See: Sea, former Garena, files for NYSE IPO In addition, Sea has granted the underwriters a 30-day option to purchase up to an additional 8.8 ...
Sea isn't all that similar to Tencent after all
(Oct 12): Singapore’s Sea initially modelled itself on Chinese internet colossus Tencent Holdings. and is often called the Tencent of Southeast Asia. Now that Sea has filed for an initial public offering and given a peak at its financials, the resemblance is starting to break down. The company, seeking to raise about US$700 million ($954.5 million) as it goes public in New York, does ...
Garena rebrands as Sea after raising US$550 mil in new funding
(May 8): Garena has rebranded as Sea after Southeast Asia’s most valuable startup secured US$550 million ($772 million) in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia. The eight-year-old startup backed by Tencent Holdings landed a clutch of new investors in its latest funding round, including some of the region’s wealthiest families. They ...