Shorts Face Off With Analysts Over Marquee Singapore Startup
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Sea Ltd., operator of Southeast Asia’s biggest gaming platform, has had a rough start as a public company.
The much-heralded Singapore-based company raised about $1 billion in an October initial public offering led by Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG. The shares have tumbled almost 20 percent since then and losses are widening. When the company reports results Wednesday, it’s projected to lose $201 million in the three months ended in December, more than double the net loss a year earlier, according to data compiled by Bloomberg. Revenue probably increased 75 percent to $154.5 million.