SEC Company Response from Sea Ltd (SE) (CIK 0001703399) (SE) — Oct 18, 2017
Sea Ltd (SE) (CIK 0001703399)
Date: Oct. 18, 2017 · CIK: 0001703399 · Accession: 0001193125-17-313009
AI Filing Summary & Sentiment
Reasoning
Letter
Division of Corporation Finance Securities and Exchange Commission Washington, D.C. 20549 Re: Sea Limited Amendment No. 3 to Registration Statement on Form F-1 CIK No. 0001703399
Dear Mr. Spirgel, Ms. Murphy, Mr. Lindsay, Mr. French and Mr. Eastman:
Our client, Sea Limited (the “Company”), a foreign private issuer incorporated under the laws of the Cayman Islands, today publicly filed its Amendment No. 3 to Registration Statement on Form F-1 (the “Registration Statement”) via EDGAR to the Securities and Exchange Commission (the “Commission”). Subsequent to the filing of the Registration Statement, the staff of the Commission (the “Staff”) made the following oral comment to the Company regarding its Registration Statement. The Staff’s comment is repeated below and followed by the Company’s response.
PARTNERS: Pierre-Luc Arsenault3 | Lai Yi Chau | Henry M.C. Cheng6 | Justin M. Dolling6 | David Patrick Eich1,5,6 | Liu Gan2 | Damian C. Jacobs6 | Guang Li3 | Neil E.M. McDonald | Kelly Naphtali | Nicholas A. Norris6 | Derek K.W. Poon3,6 | Jesse D. Sheley# | Arthur K.H. Tso | Li Chien Wong | Judy W.C. Yam | David Yun6
REGISTERED FOREIGN LAWYERS: Daniel J. Abercromby6 | Damien Coles6 | Daniel Dusek3 | David M. Irvine6 | Hao - Chin Jeng3 | Benjamin W. James4 | Cori A. Lable2 | Xiaoxi Lin3 | Daniel R. Lindsey6 | Peng Qi3 | Robert P.H. Sandes6 | Benjamin Su3 | Jonathan J. Tadd6 | Wenchen Tang3 | Xiaoyao Yin3 | David Zhang3 | Yue Zhang3
ADMITTED IN: 1 State of Illinois (U.S.A.); 2 Commonwealth of Massachusetts (U.S.A.); 3 State of New York (U.S.A.); 4 State of Texas (U.S.A.); 5 State of Wisconsin (U.S.A.); 6 England and Wales; # non - resident
Beijing Boston Chicago Houston London Los Angeles Munich New York Palo Alto San Francisco Shanghai Washington, D.C.
AD Office 11 – Telecommunications
Division of Corporation Finance
Securities and Exchange Commission
October 18, 2017
Page 2
Business
1. In light of the newly added disclosure on page 41 of the Registration Statement, please confirm that the Company is not subject to any material legal or arbitration proceedings, including governmental proceedings pending or known to be contemplated, that would require disclosure under Item 8 of Form 20-F.
The Company confirms that it is not subject to any material legal or arbitration proceedings, including governmental proceedings pending or known to be contemplated, that would require disclosure in the “Legal Proceedings” of the “Business” section of the Registration Statement.
* * *
If you have any questions regarding the above, please contact me at david.zhang@kirkland.com, +852 3761 3318 (work) or +852 9124 8324 (cell), Benjamin Su at benjamin.su@kirkland.com, +852 3761 3306 (work) or +852 9881 9371 (cell) or Ben James at ben.james@kirkland.com, +852 3761 3412 (work) or +852 5183 3813 (cell). Questions pertaining to accounting and auditing matters may be directed to the following partners at Ernst & Young LLP: Ken Ong at ken.ong@sg.ey.com, or +65 6309 6768 or Shirley Wong at shirley.wong@sg.ey.com, or +65 6309 6228 (work). Ernst & Young LLP is the independent registered public accounting firm of the Company.
Thank you for your time and attention.
Very truly yours,
/s/ David Zhang
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CORRESP
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filename1.htm
CORRESP
26th Floor, Gloucester Tower
The Landmark
15 Queen’s Road
Central
Hong Kong
Telephone: +852 3761 3300
Facsimile: +852 3761 3301
www.kirkland.com
David Zhang
To Call Writer Directly
+852 3761
3318
david.zhang@kirkland.com
October 18, 2017
CONFIDENTIAL
Mr. Larry Spirgel, Assistant Director
Ms. Celeste M. Murphy, Legal Branch Chief
Mr. Courtney Lindsay, Staff Attorney
Mr. Terry French,
Accountant Branch Chief,
Mr. Charles Eastman, Staff Accountant
AD Office 11 – Telecommunications
Division of Corporation
Finance
Securities and Exchange Commission
100 F Street,
N.E.
Washington, D.C. 20549
Re:
Sea Limited
Amendment No. 3 to Registration Statement on Form F-1
CIK No. 0001703399
Dear Mr. Spirgel, Ms. Murphy, Mr. Lindsay, Mr. French and
Mr. Eastman:
Our client, Sea Limited (the “Company”), a foreign private issuer incorporated under the laws of
the Cayman Islands, today publicly filed its Amendment No. 3 to Registration Statement on Form F-1 (the “Registration Statement”) via EDGAR to the Securities and Exchange Commission (the
“Commission”). Subsequent to the filing of the Registration Statement, the staff of the Commission (the “Staff”) made the following oral comment to the Company regarding its Registration Statement. The
Staff’s comment is repeated below and followed by the Company’s response.
PARTNERS: Pierre-Luc Arsenault3 | Lai Yi Chau | Henry M.C. Cheng6 |
Justin M. Dolling6 | David Patrick Eich1,5,6 |
Liu Gan2 | Damian C. Jacobs6 | Guang Li3 |
Neil E.M. McDonald | Kelly Naphtali | Nicholas A. Norris6 | Derek K.W. Poon3,6 |
Jesse D. Sheley# | Arthur K.H. Tso | Li Chien Wong | Judy W.C. Yam |
David Yun6
REGISTERED FOREIGN LAWYERS: Daniel J. Abercromby6 | Damien Coles6 | Daniel Dusek3 | David M. Irvine6 | Hao - Chin Jeng3 | Benjamin W. James4 |
Cori A. Lable2 | Xiaoxi Lin3 |
Daniel R. Lindsey6 | Peng Qi3 |
Robert P.H. Sandes6 | Benjamin Su3 |
Jonathan J. Tadd6 | Wenchen Tang3 | Xiaoyao Yin3 |
David Zhang3 | Yue Zhang3
ADMITTED IN: 1 State of Illinois (U.S.A.); 2 Commonwealth of Massachusetts (U.S.A.); 3 State of New York (U.S.A.); 4 State of Texas (U.S.A.); 5 State of Wisconsin (U.S.A.); 6
England and Wales; # non - resident
Beijing Boston
Chicago Houston London Los Angeles Munich New York Palo Alto
San Francisco Shanghai Washington, D.C.
AD Office 11 – Telecommunications
Division of Corporation Finance
Securities and Exchange
Commission
October 18, 2017
Page 2
Business
1.
In light of the newly added disclosure on page 41 of the Registration Statement, please confirm that the Company is not subject to any material legal or arbitration proceedings, including
governmental proceedings pending or known to be contemplated, that would require disclosure under Item 8 of Form 20-F.
The Company confirms that it is not subject to any material legal or arbitration proceedings, including governmental proceedings pending or
known to be contemplated, that would require disclosure in the “Legal Proceedings” of the “Business” section of the Registration Statement.
* * *
If you have any questions regarding the above, please contact me at david.zhang@kirkland.com, +852 3761 3318 (work) or +852 9124 8324
(cell), Benjamin Su at benjamin.su@kirkland.com, +852 3761 3306 (work) or +852 9881 9371 (cell) or Ben James at ben.james@kirkland.com, +852 3761 3412 (work) or +852 5183 3813 (cell). Questions pertaining to accounting and auditing matters may be
directed to the following partners at Ernst & Young LLP: Ken Ong at ken.ong@sg.ey.com, or +65 6309 6768 or Shirley Wong at shirley.wong@sg.ey.com, or +65 6309 6228 (work). Ernst & Young LLP is the independent registered public accounting
firm of the Company.
Thank you for your time and attention.
Very truly yours,
/s/ David Zhang
David T. Zhang
c.c.
Tony Tianyu Hou, Group Chief Financial Officer
Yanjun Wang, Esq., Group General Counsel
Benjamin Su, Esq., Partner, Kirkland & Ellis International LLP
Ben James, Esq., Partner, Kirkland & Ellis International LLP
Ken Ong, Partner, Ernst & Young LLP
Shirley Wong, Appendix K Reviewer, Ernst & Young LLP
James C. Lin, Esq., Partner, Davis Polk & Wardwell LLP