Sea aiming for US$6.3bn equity dealRAPID EXPANSION: The pandemic helped the gaming and onine shopping firm’s shares grow 70 percent, and now 11 million shares worth US$3.8 billion are on offerBloombergSea Ltd aims to raise US$6.3 billion in the largest equity offering of this year, which would propel Southeast Asia’s largest company’s global expansion. Including convertible bonds, the overall deal would be the biggest equity raise since the one by T-Mobile US Inc in June last year. The deal, offered via Goldman Sachs, JPMorgan and Bank of America, comes at a time of resurgence in cross-border issuance from Asia. Sea’s latest raising of capital follows a US$2.6 billion stock sale in December last year and a US$1.35 billion deal in 2019. Sea is now turning to fintech for further growth beyond gaming and e-commerce, while also expanding beyond the region.

Source: Taipei Times September 09, 2021 15:56 UTC