SEA is planning an IPO in the United States and InvestorPlace has a few things to know about the company.
Here’s the rundown on SEA and its IPO.
- It got its start as an online gaming company back in 2009.
- It’s original name was Garena, but it was changed to SEA as it expanded out to include other services.
- These new services include a mobile payment and shopping on the Garena platform.
- The largest shareholder in the company is Tencent Holdings Ltd with a 40% stake.
- Forrest Li, the founder, Chairman and CEO of SEA is the second largest shareholders with a 20% stake in the company.
- The gaming startup reported a net loss of $225 million on revenue of $345.70 million in 2016.
- The company is planning to sell 49.7 million American depositary shares in its IPO.
- It will be pricing these shares between $12 and $14 each.
- This will have it raising as much as $696 million with its IPO.
- If the company reaches its midpoint range for its IPO, it will have a fully diluted market value of $4.2 billion
- SEA says that it will use funds from its IPO to grow its business.
- It plans to do this by adding more customers and purchasing additional content.
- The company is looking to trade on the New York Stock Exchange under the SE ticker.
- Credit Suisse Group AG, Goldman Sachs Group Inc and Morgan Stanley are acting as underwriters for the IPO.
- The IPO announcement from the company was made on Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.