Shares of Singapore-based online gaming and e-commerce company Sea stumbled in the company's U.S. stock market debut Friday.
Shares priced at $15 apiece, above the expected range of $12 to $14, in the $884 million IPO. Shares opened at $16.25 on the NYSE but fell below $15 within the first hour of trading. Shares later stabilized slightly above $15.
The company trades under the ticker symbol "SE."
The Tencent-backed company also boosted the original offer size of 49.69 million shares by 18.7 percent in response to strong demand.
"We built a very strong foundation for our company, and more importantly, we acquired a crucial asset: our local knowledge," CEO Forrest Li told CNBC's "Squawk Alley" on Friday.