Richard Li-Backed Insurer FWD Said to Postpone Hong Kong IPO
- The insurer decides to delay its IPO due to market volatility
- FWD could resume listing plans when market conditions improve
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FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, has decided to postpone its Hong Kong initial public offering due to market volatility, according to people familiar with the matter.
The company could resume its listing plans when market conditions become favorable again, said the people, who asked not to be identified as the information is private. FWD this month won approval for its Hong Kong IPO but hadn’t decided when to launch the share sale, Bloomberg News has reported. The insurer was seeking to raise about $1 billion, people familiar with the matter have said.