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Tencent-Backed Sea Raises $1.35 Billion in Share Sale

  • Gaming and e-commerce player sold 60 million ADS at $22.50
  • A Tencent affiliate will buy some of the stock on offer
Updated on

Sea Ltd., operator of Southeast Asia’s biggest gaming platform, has raised $1.35 billion after increasing the size of a follow-on stock offering.

The Singapore-based internet company sold 60 million American depositary shares at $22.50 apiece, or about a 6.5 discount to its last close in New York. An affiliate of Tencent Holdings Ltd. as well as a separate firm linked to one of Sea’s directors are expected to buy 6.3 million of those shares at those terms, Sea said in a statement.