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Singapore’s Sea Raises $2.6 Billion in Upsized Stock Offering

Singapore’s Sea Ltd., the tech startup that’s become Southeast Asia’s most valuable company, increased the size and set the final price of a secondary stock offering to raise at least $2.57 billion.

Sea priced the sale of 13.2 million American Depositary Shares at $195 each, increasing the size from 11 million because of strong demand, according to a statement. The underwriters, led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., have the option for another 1.98 million ADS, which would yield $386 million at the same price.