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Richard Li’s Insurer FWD Eyeing Hong Kong IPO in 2023, Sources Say

  • FWD in May decided to postpone listing on weak markets
  • Insurer will update listing documents with latest financials
An FWD Group Holdings Ltd. store in Hong Kong.

An FWD Group Holdings Ltd. store in Hong Kong.

Photographer: Paul Yeung/Bloomberg

FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, is weighing 2023 as a new target for its long-awaited Hong Kong initial public offering, according to people familiar with the matter.

FWD, which in May decided to postpone its listing in the Asian financial hub due to a weak market, is working toward a potential share sale as early as the first quarter next year, the people said, asking not to be identified because the matter is private. The insurer has been seeking to raise about $1 billion in an IPO, although the final size hasn’t been formally decided, the people said.