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Singapore technology company Sea Limited plans to raise US$6.3 billion (S$8.5 billion) in a share and convertible bond sale, in one of the region's largest capital raisings, according to the firm's regulatory filing.
The Singapore-headquartered e-commerce and gaming company will sell 11 million American Depository Receipts (ADRs), with the option of offering 1.65 million more as part of a so-called greenshoe option, the filing showed.
At New York-listed Sea's closing stock price on Wednesday (Sep 8) of US$343.8, the share sale could raise up to US$3.8 billion.
It is also raising US$2.5 billion in a convertible bond that has a US$375 million greenshoe attached.
Sea's shares are up 72.72 per cent this year to give the firm a market capitalisation of US$184.93 billion, Southeast Asia's biggest.
In its filings, Sea said it planned to use the proceeds for general corporate purposes, including potential strategic investments and acquisitions.
Source: www.channelnewsasia.com
