Press "Enter" to skip to content

Sea Ltd raises about $6 billion in mega fund raising

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

September 10, 2021

(Reuters) – Southeast Asian technology giant Sea Ltd said it has raised about $6 billion in an equity and convertible bond sale.

Sea has priced 11 million American Depository Receipts at $318 each, the company said late on Thursday, together with $2.5 billion aggregate principal amount of its 0.25% convertible senior notes due 2026.

Other News:   White House Requests $30 Billion For Resettling Afghans, Natural Disaster Recovery

The combined deal is Southeast Asia’s largest fund raising, according to Refinitiv data.

Sea is a Singapore-based e-commerce and gaming company that has rapidly grown to become Southeast Asia’s most valuable listed company by market capitalisation.

Other News:   Miami-Dade School Board To Discuss COVID Vaccine Incentives

The company’s shares fell 6.1% in New York on Thursday to $322.60, but remain 62% higher for the year.

Sea’s shares recorded an almost five-fold jump in 2020 amid strong demand as pandemic-related restrictions kept people indoors.

(Reporting by Aakriti Bhalla and Kanishka Singh in Bengaluru and Scott Murdoch in Hong Kong; Editing by Shounak Dasgupta)

To continue reading this news article, follow the link to the news website.

For any inquiries, contact Amnon Free Press (Amnon Jobi Jakony) by writing to editor [at] Discover a world of hyper-local news below.

Other News:   Karen is ‘too embarrassed’ to buy Ivermectin…

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *