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Garena Gaming Platform Owner Aims to Raise $696 Million in IPO

  • Sea Ltd. was valued at $3.75 billion in 2016 furndraising
  • Goldman Sachs, Morgan Stanley, Credit Suisse lead U.S. listing

Sea Ltd., Southeast Asia’s most valuable startup that’s known for its Garena gaming and shopping platform, aims to raise as much as $696 million in its U.S. initial public offering.

The Singapore-based company, formerly called Garena, is marketing 49.7 million American depositary shares for $12 to $14 apiece, according to a regulatory filing Friday.