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Sea Aims to Raise $6.3 Billion in 2021’s Biggest Equity Deal

  • Gaming and e-commerce giant is selling shares and convertibles
  • The deal coincides with a resurgence of global stock sales
Bloomberg business news
WATCH: Singapore’s Sea Ltd. fell in post-market trade after offering more than $6 billion of stock and convertible bonds in the largest secondary offering of the year to date. Haslinda Amin reports.(Source: Bloomberg)
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Sea Ltd. aims to raise $6.3 billion in the largest equity offering of the year, a deal that will propel a global expansion and acquisitions for Southeast Asia’s largest company.

The online gaming and e-commerce firm backed by Tencent Holdings Ltd. is offering 11 million shares, a stake worth about $3.8 billion at Wednesday’s close. It also intends to issue $2.5 billion of equity-linked debt. Sea, which has risen more than 70% this year, fell in post-marketing trading in New York.