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Singapore-based tech conglomerate Sea Limited is set to embark on a public listing for its financial services arm Monee, as per an internal memo dated October 20, according to Reuters. The memo, penned by the company's founder Forrest Li, revealed that the IPO would provide Monee with the "resources and the room to go further and faster than it can today."
Monee operates across Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Taiwan, and Brazil, offering various financial services including mobile wallets, payments processing, credit, and banking solutions. Sea did not immediately comment on the memo. The memo also announced the launch of an AI-first enterprise platform called Sea Cloud, marking the ninth anniversary of Sea's initial public listing in New York.
Li highlighted that the group's quarterly revenue has grown an astounding 80-fold over the same period, reaching a total of US$7.8 billion (S$10 billion).
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Singapore tech giant Sea plans IPO for financial services arm Monee, memo says channelnewsasia.com
- Sea’s CEO says financial services arm Monee could go public, WSJ reports investing.com
- Sea plans IPO for financial services arm Monee, memo says straitstimes.com
- Singapore billionaire Forrest Li's Sea plans new cloud business, IPO for financial services arm e.vnexpress.net
- Sea plans IPO for financial services arm Monee: source techinasia.com
