Shopee to pull out of India
? 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.