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Finance

Singapore internet giant Sea to raise $2bn with new shares

Tencent-backed company eyes further expansion, including with digital banking license

Internet giant Sea announced a fresh offering of 11 million American Depositary Shares in an underwritten public offering. (Source photos by SEA and Kentaro Iwamoto)

SINGAPORE -- Singapore-based internet giant Sea on Thursday said it was pursuing "business expansion" in announcing a fresh offering of 11 million American Depositary Shares in an underwritten public offering.

At current stock prices, proceeds from the tranche would net more than $2 billion for the company, which has transcended its unicorn status to become Southeast Asia's largest listed company with a market valuation of around $100 billion.

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