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Singapore online gaming firm Sea raises about $890 mln in U.S. IPO - IFR
October 20, 2017 / 6:48 AM / a month ago

Singapore online gaming firm Sea raises about $890 mln in U.S. IPO - IFR

SINGAPORE, Oct 20 (Reuters) - Singapore-based online gaming and e-commerce firm Sea Ltd has raised about $890 million in its U.S IPO after pricing the offering above expectations, Thomson Reuters publication IFR reported, citing two people with knowledge of the transaction.

Supported by strong demand, the shares were sold at $15 each, more than its marketed range of $12–$14 and the company also boosted the original offer size of 49.69 million shares by 20 percent, IFR said.

The deal also includes a greenshoe option for 7.45 million shares, which could lift the value of the offering to $1 billion.

Sea, which also provides digital payment services, was unable to comment as it is in a quiet period. (Reporting by S Anuradha of IFR; Additional reporting and writing by Aradhana Aravindan; Editing by Edwina Gibbs)

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