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Top Stock Highlights of the Week: Ascott Residence Trust, Sea Limited and Hongkong Land
By The Smart Investor  •  September 11, 2021
Here’s another edition of our top stock highlights where we feature the latest groundbreaking corporate news and updates. Sea Limited (NYSE: SE) Sea Limited is an e-commerce giant with three main divisions — digital entertainment (i.e. gaming) under Garena, e-commerce under Shopee, and digital payments branded under SeaMoney. Two days ago, the company proposed to raise money through an offering of 11 million American Depository Receipts (ADS) and US$2.5 billion in the aggregate principal amount of notes. Sea ended up upsizing this share offer to 11 million ADS due to strong institutional demand and priced each ADS at US$318 per share. The equity offering will raise around US$3.8 billion. In total, the company raised around US$6.3 billion. Underwriters Goldman Sachs (NYSE: GS) and JPMorgan Chase & Co (NYSE: JPM) have the option to purchase an additional 1.98 million ADS which could raise a further US$386 million for the company at the same price. This news caused Sea Limited’s shares to...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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