Sea Ltd SE (former Garena)

Sea Ltd SE (former Garena)

Postby winston » Wed May 24, 2017 9:33 am

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Southeast Asia's biggest startup files for $1 billion IPO, sources say: Bloomberg

Southeast Asia startup Sea Ltd has filed for a potential U.S. initial public offering that could raise about $1 billion, Bloomberg reported on Tuesday, citing people familiar with the matter.

The company, which was earlier known as Garena, filed confidentially with the U.S. Securities and Exchange Commission and is looking forward to list itself in early 2018, Bloomberg said.

Goldman Sachs (GS.N) and Morgan Stanley (MS.N) are serving as underwriters.

Singapore-based Sea did not immediately respond to an email seeking comment.

Source: Reuters
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Re: Sea Ltd IPO (former Garena)

Postby winston » Mon Sep 25, 2017 7:50 am

Parent of Garena files for US$1bil IPO in US

NEW YORK: Sea Ltd, South-East Asia’s most valuable startup that’s known for its Garena gaming platform, filed for a US initial public offering.

The Singapore-based company, formerly called Garena, listed an offering size of US$1bil (RM4.2bil) in a filing on Friday with the US Securities and Exchange Commission. Sea intends to use the proceeds from its sale of American depositary shares to fund business growth initiatives including user acquisition and content procurement.

The company was founded by Chinese entrepreneur Forrest Li, who is a Singaporean citizen, as an online gaming company in 2009. It has since branched out to add mobile shopping and payment services in South-East Asia.

The firm was valued at about US$3.75bil when it raised US$170mil in a fundraising round in March 2016.

With a 40% holding, Chinese technology giant Tencent Holdings Ltd owns the biggest private stake in Sea, according to the filing. Li, who serves as chairman and group chief executive officer, is the next biggest holder at 20%.

The company posted a net loss of US$225mil on revenue of US$345.7mil last year, according to the filing. In 2015, Sea saw a net loss of US$107.3mil on revenue of US$292.1mil.

Goldman Sachs Group Inc, Morgan Stanley and Credit Suisse Group AG are leading the offering. The company has applied to list on the New York Stock Exchange under the symbol SE.

Source: Bloomberg

http://www.thestar.com.my/business/busi ... 8OrHZzw.99
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Re: Sea Ltd IPO (former Garena)

Postby winston » Fri Oct 20, 2017 8:39 pm

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Re: Sea Ltd IPO (former Garena)

Postby winston » Fri Oct 20, 2017 8:44 pm

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Tencent-backed Sea seeks to raise $1bn in New York IPO

by Edward White, Louise Lucas

Tencent-backed Sea Limited will seek to raise more than $1bn via an initial public offering in New York on Friday.

The Southeast Asian ecommerce and gaming group has priced its shares at $15 a share, above the indicated range of $12-$14.

The pricing for the shares, which begin trading on the New York Stock Exchange on Friday, implies that if the greenshoe option is fully exercised the listing could raise up to just over $1bn. Without the option, the IPO would raise $884m.

Chinese tech giant Tencent, which currently owns a 39.8% outstanding equity interest in Sea, told the Financial Times it is interested in participating in Sea’s IPO by subscribing up to US$100 million worth of shares.

Source: FT

https://www.ft.com/content/f648599b-229 ... 0?mhq5j=e6
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Re: Sea Ltd SE (former Garena)

Postby winston » Fri Oct 20, 2017 8:53 pm

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Sea Limited IPO: What Investors Need to Know

Singapore-based Sea Limited aims to raise nearly $700 million in its upcoming issue.

by Eric Volkman

Overall, Sea Limited's revenue has risen steeply over the past few years.

The annual top line more than doubled from 2014 to 2016, ending up at almost $346 million in the latter year.

The e-commerce and financial-services realms combined still form only a small fraction of revenue (5% in 2016), although they're growing at almost twice the rate of the entertainment wing.

Sea Limited hasn't been profitable, however. Net loss deepened from $88 million in 2014 to $103 million the following year, to nearly $223 million for 2016.


Regional distributor for League of Legends.

Tencent will hold around 30% of total voting power after the IPO;

Company founder Forrest Li, along with other top executives, will own just over 52%.

Sea Limited touts research from Frost & Sullivan indicating that the GSEA game market will grow at a compound annual growth rate (CAGR) of almost 20% between 2016 and 2021.

The e-commerce space should expand at a 29% clip, and the company quotes a 30% CAGR estimate from IDC for e-wallet payment volume.

AirPay, despite its No. 1 position in the market, the AirPay app is available only in Thailand, Vietnam, and and Taiwan.


Source: Motley Fool

https://www.fool.com/investing/2017/10/ ... -know.aspx
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Re: Sea Ltd SE (former Garena)

Postby winston » Sat Oct 21, 2017 8:04 am

Tencent ‘mini-me’ debuts in US as battle for Southeast Asian e-commerce dominance intensifies

Southeast Asia’s largest tech start-up Sea’s NYSE debut adds to a busy year of US IPOs for Asian firms

Founded in 2009 by entrepreneur Forrest Li under its original name Garena, Sea is best known for its online gaming business, which still makes up 90 per cent of its total revenue.


The region, home to 600 million people who still largely shop offline, has seen significant investments from Alibaba and Tencent over the past year.


To grow its customer base, Sea offers free or heavily discounted shipping to shoppers across the region, which cuts into its profit.


Source: SCMP

http://www.scmp.com/business/investor-r ... st-asian-e
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Re: Sea Ltd SE (former Garena)

Postby winston » Sat Oct 21, 2017 4:33 pm

Tencent-backed SE Asia’s digital startup Sea raises $884m in US IPO

At the listing, the offer size was also hiked from its earlier range to 58,960,000 shares, each share representing one Class A ordinary share “for a total offering size of approximately $884 million, assuming the underwriters do not exercise their option to purchase additional ADSs,”

Sea has granted the underwriters a 30-day option to purchase up to an additional 8,844,000 ADSs to cover over-allotments.


Source: Deal Street Asia

https://www.dealstreetasia.com/stories/ ... 69cc61b4c8
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Re: Sea Ltd SE (former Garena)

Postby winston » Sat Oct 21, 2017 4:44 pm

Singapore's Game Startup Sea Raised $884 Million in New York IPO

By Yoo-Lim Lee and Alex Barinka

It was valued at $3.75 billion in its 2016 fundraising and will surpass $4 billion with the IPO.


With Tencent’s support, the startup has attracted marquee backers. They include the Ontario Teachers’ Pension Plan, Malaysia’s sovereign wealth fund and several Asian billionaires. Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG are leading the public offering.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... ion-in-ipo
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Re: Sea Ltd SE (former Garena)

Postby winston » Sat Oct 21, 2017 10:22 pm

After initial slip, Sea stock recovers in IPO debut

by Kevin McSpadden

The price recovered from a disaster in the first hour to end the day in a solid position

The initial public offering for SEA Group, formerly known as Garena, stumbled out of the gate before recovering and finishing the day in a position the company should find acceptable.

When the stock listed at around 11 am it was trading at nearly US$17 a share (higher than the sale price of US$15 a share).

Within about 45 minutes the stock fell off a cliff and dropped almost 18 per cent to US$14. The rest of the day was spent recovering and by the end of trading, SEA Group’s stock closed at just over US$16.

SEA Group saw a trading volume of 18.6 million shares, which made it the sixth most traded stock on the NYSE yesterday, according to Yahoo Finance.

In its public offering, SEA sold almost 59 million shares at US$15, or about 10 million more shares than it initially planned. The US$15 was above its original target of US$12 to US$14 and the company ended up raising US$884 million.

The underwriters have 30 days to decide if they want to purchase an additional 8.8 million shares that would put the total amount raised over US$1 billion.

The company’s ticker symbol is SE.

SEA is the twelfth Asian company to list in the US this year and are on pace to break the records for most listings in America from Asian companies.

Source: Yahoo Malaysia

https://malaysia.yahoo.com/news/initial ... 00052.html
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Re: Sea Ltd SE (former Garena)

Postby winston » Sun Oct 22, 2017 6:31 am

Why Garena Can Boost Tencent's Revenue From Mobile Games

by Motek Moyen

Summary

Garena has launched Arena of Valor in South East Asia. Arena of Valor is the English version of Tencent’s Chinese MOBA mobile game, Honor of Kings.

The China-only Honor of Kings is the world’s top-grossing mobile game. However, Tencent imposed daily playing time limit for teens in China last July.

Honor of Kings’ revenue stream in China will be affected by the restriction on daily playing time. Garena's Arena of Valor can improve Tencent’s revenue from mobile games.

Garena is partly-owned by Tencent. It is also the biggest online games operator in South East Asia. South East Asia has a fast-growing mobile games industry.

Garena is planning its $1 billion U.S. IPO. Garena might also become the publisher for Arena of Valor in North America.

As per Statista’s 2016 estimates, South East Asia’s mobile gaming industry generated $828.5 million in revenue last year. This is expected to grow to $1.8 billion by 2020.


Prior to the daily play time restrictions, Honor of Kings could generate monthly revenue of 1.8 billion Yuan ($271 million).


Tencent previously announced that it also plans to launch Arena of Valor in the U.S. It makes sense to expect that Tencent will again pick Garena to be the North America publisher of Arena of Valor.


Source: Seeking Alpha

https://seekingalpha.com/article/411468 ... bile-games
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