Tencent-backed Sea makes better second impression, says AlecMac11:
Sea, the Southeast Asian gaming and e-commerce company backed by Chinese internet giant Tencent, said on March 5 it had raised $1.35 billion in a share sale.
The New York-listed company priced 60 million American depositary shares at $22.50 each, 10 million more than it intended to sell when it announced the offering on March 1.Sea has also granted underwriters a 30-day option to buy up to an additional 9 million depositary shares on the same terms and conditions.
An entity affiliated with Tencent and another affiliated with one of Sea’s directors are expected to buy 6.3 million of shares on offer.Goldman Sachs and Morgan Stanley are acting as joint bookrunners and China International Capital Corp is acting as a co-manager of the offering.
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