Reported 11 months ago
Billionaire Richard Li's FWD Group is planning to list the pan-Asian insurer in Hong Kong, potentially targeting a valuation of up to $9 billion in the IPO. The revival of the plan comes after previous attempts were hindered by regulatory delays and market volatility. Founded in 2013, FWD is controlled by Li through Pacific Century Group and had previously aimed for a $10 billion valuation in 2022. The listing could boost Hong Kong's financial outlook amid a slowdown in new listings and geopolitical tensions, with FWD having raised $1.83 billion in private placements recently.
Source: YAHOO