Equity Analysis /

SG : SEA Ltd - Shopee to pull out of India

    Khangchuen Ong
    Khangchuen Ong

    Research Analyst

    29 March 2022
    Published by

    Shopee announced it will exit from India, citing global market uncertainties. This does not come as a surprise, in view of SE’s latest developments there. Given India’s huge market size and challenging competitive landscape, Shopee’s exit could put SE on a firmer footing in its path to profitability. Reiterate Add with unchanged SOP-based TP of US$202.