Garena parent company Sea raises $884 million from IPO on NYSE

Share price dips to $14 in the first week

Garena parent company Sea raises $884 million from IPO on NYSE

Singapore-based e-commerce and digital entertainment firm Sea raised $884 million from its IPO on October 20th.

The company had priced its shares at $15 a share for its 58,960,000 available shares. An additional 8,844,000 shares were also available, bringing the potential total raised to over $1 billion.

As reported by DealStreetAsia, Chinese behemoth Tencent was eyeing up $100 million worth of shares in Sea. The company publishes Tencent's Honor of Kings in Southeast Asia.

Riding the wave

Sea began trading on the New York Stock Exchange on October 20th under the ticker name SE. Its share price has fallen in the week since it began publicly trading to around $14.

The company announced its plans to IPO back in September 2017. Goldman Sachs, Morgan Stanley, and Credit Suisse Securities acted joint bookrunners for the IPO.


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