Daily Briefing: Unicorn SEA files IPO in NYSE; Why en bloc sales can be bad

And here's how to find companies with good intangible assets.

From Tech in Asia:

Singapore unicorn Sea, formerly Garena, announced on Friday that it has filed a registration statement for a proposed IPO on the New York Stock Exchange. Goldman Sachs, Morgan Stanley, and Credit Suisse will be the bookrunners for the IPO. The number of shares and their price range have not yet been determined, says the announcement.

Sea, which made its mark initially with gaming, diversified into e-commerce and digital payments. Today it has three brands – Garena, Shopee, and AirPay – with a presence in seven markets across Southeast Asia: Indonesia, Vietnam, Thailand, the Philippines, Malaysia, Taiwan, and Singapore.

It rebranded itself Sea from Garena on its eighth birthday on May 8 this year, after a funding round of US$550 million from Hillhouse, Cathay Financial, Farallon, GDP Ventures, JG Summit Holdings, and other investors.

Read more here.

From Propwise.sg via Yahoo!:

Every news article reports a successful en bloc sale in a similar way: how much the project was sold for, what the estimated amount each owner can pocket is, which developer paid the top price, what the potential future project is, and so on.

The media is only covering part of the story of a successful en bloc sale. Have they interviewed the rest of the 20 percent owners who voted “No” to sell their home?

En bloc is a battle between the two camps of “sell” and “stay” owners. You will be surprised how a quiet and peaceful housing estate suddenly turns upside down when talk of collective sale begins.

Read more here.

From The Motley Fool:

Intangibles account for over half the market capitalization of public companies. These intangibles include brand value, a strong organisational process, or an efficient and productive workforce.

Despite this, research has shown that investors still often undervalue intangible-heavy companies.

Read more here.