Sea Ltd (NYSE: SE) director Kuok details ADS and 2026 note holdings
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Sea Ltd director KUOK Khoon Hua filed an initial ownership report showing his existing holdings in the company’s ADSs and related securities. He directly holds 114,225 ADSs, each representing one Class A ordinary share.
Additional ADS positions and Convertible Senior Notes due in 2026 are held indirectly through entities including Merrywood Investments Limited, Macromind Investments Limited, Velmar Company Limited and Always Best International Limited. Footnotes state these entities are subsidiaries of Kerry Group Limited or part of a discretionary trust, and that Mr. Kuok disclaims beneficial ownership of those securities for all other purposes.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
KUOK Khoon Hua
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Convertible Senior Notes due in 2026 | -- | -- | -- |
| holding | ADS, each representing one Class A ordinary share | -- | -- | -- |
| holding | ADS, each representing one Class A ordinary share | -- | -- | -- |
| holding | ADS, each representing one Class A ordinary share | -- | -- | -- |
| holding | ADS, each representing one Class A ordinary share | -- | -- | -- |
Holdings After Transaction:
Convertible Senior Notes due in 2026 — 73,374 shares (Indirect, By Merrywood Investments Limited);
ADS, each representing one Class A ordinary share — 114,225 shares (Direct);
ADS, each representing one Class A ordinary share — 258,216 shares (Indirect, By Macromind Investments Limited)
Footnotes (1)
- The securities are held by Macromind Investments Limited, Velmar Company Limited and Merrywood Investments Limited, all being wholly-owned subsidiaries of Kerry Group Limited. Mr. Kuok is a director and a minority shareholder of Kerry Group Limited. Mr. Kuok disclaims beneficial ownership of the securities for all other purposes. The securities are held by Always Best International Limited, an investment company of a discretionary trust in which Mr. Kuok is one of the discretionary beneficiaries. Mr. Kuok disclaims beneficial ownership of the securities for all other purposes. Note holders have the right, at their option, to convert the outstanding principal amount into ADSs at an initial conversion rate of 2.0964 ADSs per US$1,000 principal amount (equivalent to approximately US$477.01 per ADS) (i) upon satisfaction of one or more of the conversion conditions as defined in the indenture prior to the close of business on the business day immediately preceding June 15, 2026; or (ii) anytime on or after June 15, 2026 until the close of business on the second scheduled trading day immediately preceding the maturity date. The notes will mature in September 2026.
FAQ
What does KUOK Khoon Hua’s Form 3 filing for Sea Ltd (SE) show?
The Form 3 shows existing ownership, not new trades. It reports KUOK Khoon Hua’s direct holding of 114,225 Sea Ltd ADSs and additional indirect interests through several investment entities and a trust structure, as of the Form 3 reporting date.
How many Sea Ltd ADSs does KUOK Khoon Hua directly hold?
He directly holds 114,225 ADSs of Sea Ltd. Each ADS represents one Class A ordinary share, so this figure reflects his personal registered position separate from any securities held through related investment entities or trust arrangements.
What indirect Sea Ltd holdings are reported for KUOK Khoon Hua?
Indirect holdings are reported through Macromind Investments Limited, Velmar Company Limited, Merrywood Investments Limited and Always Best International Limited. These entities hold ADSs and, in some cases, convertible notes, but Mr. Kuok disclaims beneficial ownership of those securities for all other purposes.
What are the key terms of Sea Ltd’s Convertible Senior Notes due 2026 in this filing?
The filing notes 2026 convertible senior notes linked to Sea Ltd ADSs. Footnotes state note holders may convert principal into ADSs at a rate of 2.0964 ADSs per US$1,000 principal (about US$477.01 per ADS), subject to stated timing and condition requirements.
Why does KUOK Khoon Hua disclaim beneficial ownership of some Sea Ltd securities?
He disclaims beneficial ownership because certain securities are held by Kerry Group Limited subsidiaries or a discretionary trust. Although he is a director, minority shareholder, or discretionary beneficiary, the filing states these interests are not beneficially owned by him for other purposes.