News Snapshot:
FWD Group, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai , is planning to raise up to US$3 billion from an initial public offering in the US next month, according to a person familiar with the transaction. PCGI Intermediate Holdings, FWD’s holding company, had made a confidential filing in June, which was reported by the Post . The deal will value FWD at roughly US$13 billion, the report said, quoting another person close to the transaction. HSBC, JPMorgan, Morgan Stanley, and Goldman Sachs are leading the share sale. JPMorgan did not immediately have a comment, while HSBC and...
