Tycoon Richard Li’s Insurer FWD Refiles for Hong Kong IPO
- Firm reports 25% growth in value of new business in first half
- FWD may seek H.K. listing as soon as first quarter of 2023
An FWD Group Holdings Ltd. store in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, has refiled an application for a Hong Kong initial public offering as it now weighs a listing next year amid market volatility.
The renewed filing will grant more time for the insurer to continue with preparations for a share sale in the city. The company has been seeking to raise about $1 billion in an IPO, which could take place as early as the first quarter, although the final size and timing haven’t been formally decided, Bloomberg News reported this month.