Sea raises over US$890 million in IPO after priced its stock at US$15 per share | Techsauce

Sea raises over US$890 million in IPO after priced its stock at US$15 per share

Singaporean internet company Sea Group has reportedly raised 894 million US dollars after pricing the shares above expectations at $15 a pop — $1 above the previous target of $14. Reporting to be the most important IPO for the SEA startup scene ever.

The company will publicly list its stock on the New York Stock Exchange. While the US$890 million is the number from the public sale of its 49,690,000 shares, Sea is planning to exercise a greenshoe option which could take the total number above US$1 billion.This typically occurs when demand for the stock is higher than expected.

Furthermore, Chinese tech giant Tencent, which currently owns a 39.8 percent equity interest in Sea, may also participate in the IPO by subscribing up to US$100 million of shares.

Sea Group was formerly known as Garena before a massive re-branding scheme last spring.

Source: E27  Photo: K'Nok Anulomsombut

ลงทะเบียนเข้าสู่ระบบ เพื่ออ่านบทความฟรีไม่จำกัด


Responsive image

Co-founder Pattaraporn Bodhisuwan Regains Eventpop in Strategic Move for Company Advancement

Eventpop Reacquired by Co-founder Pattaraporn Bodhisuwan from OPN in a Strategic Move to Propel the Company Forward...

Responsive image

Ant International, Grab and StraitsX collaborate to enable cross border payments with Purpose Bound Money for local merchants

Ant International, Grab, and StraitsX announced a collaboration to look into the potential for Purpose Bound Money (PBM) to be applied to cross border payments...

Responsive image

upDrive: Nurturing the startup ecosystem

upDrive will hold a free, multi-day educational and networking event in Jakarta, Indonesia, for people who work to create and support local startup ecosystems....