Shares of Sea Limited (SE), a Singapore-based e-commerce, gaming and digital financial services company, are rising more than 5 percent or $5.22 in Thursday's morning trade at $232.00, after hitting a new 52-week high of $232.40.
Bloomberg reported Wednesday, citing people familiar with the matter, that Sea has acquired Indonesia's PT Bank Kasejahteraan Ekonomi, or Bank BKE. The acquisition will enable Sea to grow its financial technology and services across the Southeast Asian region.
In December, Sea said it has been selected by the Monetary Authority of Singapore for the award of a license to operate a digital full bank in Singapore. This was the first time such a license was awarded in Singapore.
Sea has traded in a range of $35.61 to $232.40 in the past 52 weeks.
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