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

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.