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

No comment

RELATED ARTICLE

Responsive image

Gearing Up for Virtual Banking: SCBX Taps WeBank as Tech Partner, Advancing Consortium's License Pursuit

As giants companies heat up new virtual bank licenses, SCBX and WeBank have agreed to collaborate on exploring deployment of innovative technology in Thailand, supporting the Conso...

Responsive image

ContributionDAO Successfully Raises $2.8 Million To Expand Staking Into The Southeast Asia Market

Singapore-based institutional-grade staking platform, ContributionDAO has secured $2.8 million in a seed funding round led by KASIKORN X Venture Capital (KXVC), the VC arm of Thail...

Responsive image

SCBX Acquires 100% of Home Credit Vietnam

SCB X Public Company Limited (“SCBX”) today announced that SCB has signed a sale and purchase agreement to acquire 100% of the charter capital of Home Credit Vietnam...