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Technology

Sea Ltd raises about $6 billion in mega fund raising

  • 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
10 Sep 2021

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.

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.

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.

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