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: Financial Times
