Sea Limited Announces Proposed Offering of American Depositary Shares
Last sea ltd ads earnings: 3/3 06:30 am
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US:NYSE Investor Relations: seagroup.com/investor/home
SINGAPORE, March 1, 2019 /PRNewswire/ -- Sea Limited (NYSE: SE) ("Sea" or the "Company") today announced that it proposes to offer 50,000,000 American Depositary Shares ("ADS"), each representing one Class A ordinary share of the Company, in an underwritten public offering. All of the ADSs to be sold in the offering will be offered by Sea. Sea intends to grant to the underwriters a 30-day option to purchase up to an additional 7,500,000 ADSs on the same terms and conditions. Tencent Holdings Limited, one of Sea's principal shareholders, has indicated an interest in purchasing US$50 million of the ADSs in this offering at the public offering price and on the same terms as the other ADSs being offered. Sea and the underwriters are currently under no obligation to sell ADSs to Tencent Holdings Limited.The Company expects to use the net proceeds from this offering for business expansion and other general corporate purposes.Goldman Sachs (Asia) L.L.C. and Morgan Stanley & Co. LLC are actin
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