Sea Ltd likely to up the cash burn in its e-commerce business

Sea Ltd likely to up the cash burn in its e-commerce business

Photo: Sea website

As regional internet major Sea Ltd raised $1.5 billion in its upsized ADS offering on Monday, analysts tracking the stock expect higher cash calls over the next year or so, potentially resulting in more cash burn, as the company seeks to fortify its position in the e-commerce space.

The counter closed on March 11, 2019 at $23.32, down 38 cents, or 1.6 per cent following the announcement. In after-hours trading as at 8:09 pm US Eastern Daylight Time (EDT), Sea Ltd’s stock price was last traded at $23.78, up 46 cents, or 1.97 per cent.

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