Singapore tech giant Sea plans IPO for financial services arm Monee, memo says
The memo said the tech group would also launch an AI-first enterprise platform named Sea Cloud.
Sea Limited, a Singapore-based tech conglomerate, is contemplating a public listing for its financial services arm, Monee, according to a memo sent to employees on October 20. The company, which operates in several Southeast Asian countries and offers mobile wallets, payments processing, credit and banking services, also plans to launch an AI-first enterprise platform called Sea Cloud.
Founder Forrest Li believes that going public will provide Monee with the necessary resources and flexibility to expand and improve its operations. The memo, sent on the ninth anniversary of the company's New York listing, highlights a significant growth in the group's quarterly revenue, which has increased more than 80 times to US$7.8 billion.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- 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
- Sea plans IPO for financial services arm Monee: source techinasia.com
