- Sea Ltd’s (NYSE:SE) e-commerce arm, Shopee, looked to shut down its India operations citing global market uncertainties, Reuters reports.
- Shopee recently announced it’s pulling out of France after India banned Sea’s popular game “Free Fire.”
- Also Read: Sea’s Management Investors Smell More Trouble Post India Ban Triggered Selloff
- Sea’s market value plunged by $16 billion in a single day post the ban in India.
- The ban followed a long dispute between India and China over a 2020 altercation that left soldiers from both sides dead and drew stricter laws in India for investments from China.
- Sea launched Shopee in India in October 2021.
- Price Action: SE shares traded lower by 8.89% at $105.80 in the premarket on the last check Monday.
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