Tencent-Backed Tech Giant Sea Taps Investors for About $6 Billion – The Wall Street Journal

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Southeast Asia’s most valuable listed company, Sea Ltd., plans to raise about $6 billion or more in new funds, capitalizing on investor enthusiasm for the region’s fast-growing technology industry.

The Tencent Holdings Ltd.-backed gaming, e-commerce and digital-finance company said in a filing late Wednesday that it would raise the capital by selling new shares and convertible bonds. Sea said some of the proceeds would help expand its business, while funds could also be deployed on “potential strategic investments and acquisitions.”