Southeast Asian tech giant Sea Ltd has rolled out a new share repurchase plan, allowing the NYSE-listed firm to buy back up to $1 billion of its American depositary shares, according to the company’s statement on Monday.
The company said the pace and volume of the buybacks will depend on market conditions and other internal considerations. Repurchases may be executed through several channels, including open-market trades, block deals, privately arranged transactions, derivatives, or preset trading plans that comply with Rule 10b5-1 and Rule 10b-18 in the US.
The move underscores the company’s confidence in its long-term outlook and gives it flexibility to scoop up shares when market opportunities arise.
Listed on the NYSW in October 2017, Sea’s stock has been a roller coaster. It debuted at $15 apiece, giving the company a market capitalisation of about $4.9 billion. At that time, Garena was the primary revenue generator, Shopee was in its growth phase, and SeaMoney had only recently begun its fintech push.
As of November 14, 2025, the stock is trading at $140 apiece, up by 766.24% from its IPO price, giving Sea a market capitalisation of $83.39 billion. The business mix has shifted as well: Shopee is now the main growth driver, with adjusted EBITDA surging more than fivefold in Q3 2025. Monee (previously SeaMoney) followed with a 37.5% rise, while Garena posted a 48.2% increase.
In a memo marking the company’s eighth anniversary since IPO, Sea’s chairman and CEO Forrest Li said, “I firmly believe that this rise is different.”
“Some of you, especially those who have been with us for a longer time, may be wondering whether this is going to be like what we experienced in 2021 and 2022: our share price going up by a lot, but then falling very quickly when the external environment changed,” Li wrote. “While the external environment will always be unpredictable, I feel much more settled today about our future.”
“Today, we are a stronger, healthier, more seasoned vessel, and the capital market is recognising that,” he wrote.
He added that all three businesses are now profitable with a stronger balance sheet, and that the company “no longer relies on external capital”, which gives it greater control over its trajectory.
Following the dramatic decline in its share price, Sea pivoted to cost-cutting measures, reducing marketing spend, incentives, and headcount. These steps helped the company post its first profitable quarter in 2022.
In Q3 2025, Sea reported its gross profit was at $2.6 billion, an increase of 39.7% from $1.7 billion in the same quarter last year.
