Tycoon Richard Li’s Insurer FWD Files for Long-Awaited IPO
- FWD discloses planned Apollo investment along with listing
- Acquisitive insurer seeks to sell stock in fourth quarter
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FWD Group Holdings Ltd., the acquisitive Asian insurer backed by billionaire Richard Li, filed on Thursday to go public in the U.S.
The Hong Kong-based company listed the size of the offering as $100 million, a placeholder that will likely change when the proposed terms of the share sale are set. The filing confirmed an earlier Bloomberg News report that FWD was preparing to unveil its first public filing for the initial public offering this week.