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Singapore-based internet firm Sea plans $2.23 bln share offering

·1-min read

Dec 10 (Reuters) - Singapore-based Sea Ltd, an e-commerce and digital financial services provider, said it plans an offering of American Depositary Shares that would be worth about $2.23 billion at the stock's last closing price. It will issue 11 million American Depositary Shares, it said in a filing on Thursday. The company's New York-listed stock last closed at $202.68 on Wednesday. Goldman Sachs (Asia) LLC and J.P. Morgan Securities LLC are acting as joint bookrunners for the proposed offering. Sea expects to use the proceeds from the offering for business expansion, potential strategic investments and acquisitions, according to the filing. Last week, Sea and ride-hailing firm Grab's venture with Singtel each won licences to run Singapore's first digital banks, in a massive shakeup in the city-state's banking sector. (Reporting by Shruti Sonal in Bengaluru; Editing by Ana Nicolaci da Costa)