HONG KONG — Southeast Asian technology company Sea Ltd plans to raise$6.3 billion in a share- and convertible bond sale, in one of the region’s largest ever 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 of $343.8, the share sale could raise up to $3.8 billion.
It is also raising $2.5 billion in a convertible bond that has a $375 million greenshoe attached.
Sea’s shares are up 72.72% this year to give the firm a market capitalisation of $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. (Reporting by Scott Murdoch in Hong Kong; Editing by Muralikumar Anantharaman)