MARKETS & INVESTING | Staff Reporter, Singapore

Singapore unicorn SEA could bag $850m in IPO

The Tencent-backed firm raised its share price to $15.

Bloomberg reports that Singapore’s Sea Ltd. plans to price shares at $15 in its initial public offering and raise more than $850m, according to people familiar with the matter.

The total amount may be more than $1b if an option to sell additional shares is exercised, said one of the people, asking not to be identified because the matter is private.

The games company, backed by China’s Tencent Holdings Ltd., raised the price from its initial range of $12 to $14 for each share. It also increased the number of shares to be sold.

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