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UPDATE 1-Southeast Asian online services firm Sea applies for NYSE listing

UPDATE 1-Southeast Asian online services firm Sea applies for NYSE listing
From Reuters - September 23, 2017

SINGAPORE (Reuters) - Southeast Asias Sea Ltd, which provides e-commerce and digital payments services, is eyeing a $1 billion offering of new shares in aggregate in a proposed IPO on the New York Stock Exchange, according to a document it has filed with the U.S. Securities and Exchange Commission.

Goldman Sachs (Asia), Morgan Stanley & Co International and Credit Suisse Securities (USA) are joint bookrunners for the proposed initial public offering of its American depositary shares, the Singapore-based company said in a statement on Saturday.

The number of shares on offer and the price range have not yet been determined, said Sea, formerly known as Garena, which was valued at $3.75 billion after a March 2016 funding round.

The company, which also provides online gaming services, raised $550 million in May for an undisclosed valuation. The company counts Indonesia, Taiwan, Vietnam, Thailand, the Philippines, Malaysia and Singapore as its key markets.

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