SINGAPORE (IT-Times) – The Internet sector in Asia is booming. This applies not only to Chinese companies, but also to technology companies from Singapore, including Sea Ltd., which is now making good use of the capital market.
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Sea Limited (NYSE: SE) is publicly traded in the United States and today announced that it will limit its secondary offering for new shares to a minimum of $ 2.57 billion.
Sea sells 13.2 million American Depositary Shares (ADS) at $ 195 each, taking advantage of the high share price. In advance, the company wanted to issue eleven million shares, the high demand led to an increase.
The underwriters for the offer are Goldman Sachs Group Inc. and JPMorgan Chase & Co., they have a greenshoe of an additional 1.98 million shares, which would bring another US $ 386 million into the coffers.
Sea, a gaming company specializing in topics such as e-commerce and digital payments, has grown to a market valuation of nearly $ 100 billion, with its stock rising nearly 400 percent this year alone.
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