Sea’s CEO says financial services arm Monee could go public, WSJ reports

Sea Ltd's (NYSE:SE) digital financial services arm Monee could pursue an initial public offering as the business expands, the Wall Street Journal reported on Tuesday, citing an internal memo from Chief Executive Forrest Li.

Monee, which has been Sea's fastest-growing business in recent quarters, is approaching a stage where it could operate independently, Li said in the memo marking the ninth anniversary of Sea's listing on the New York Stock Exchange.

Sea, one of Southeast Asia's largest companies by market value, also operates e-commerce platform Shopee and gaming division Garena.

Li said all three businesses were well-scaled, profitable and continuing to grow, crediting Sea's public listing with providing capital and credibility while allowing more investors to participate in its growth, according to the WSJ report.

A potential listing would give Monee greater access to capital as Sea seeks to develop its financial services business, although Li did not provide a timeline or details of a possible offering, the WSJ report said.