Hong Kong tycoon Richard Li's insurer FWD files for long-awaited US IPO, Banking News & Top Stories


Source: straitstimes.com straitstimes.com

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HONG KONG (BLOOMBERG) - FWD, the acquisitive Asian insurer backed by billionaire Richard Li, filed on Thursday (Sept 23) to go public in the United States, confirming an earlier Bloomberg News report. The Hong Kong-based company listed the size of the offering as US$100 million (S$134.8 million), a placeholder that will likely change when the proposed terms of the share sale are set. FWD could seek to raise about US$2 billion to US$3 billion based on initial investor feedback, said people with knowledge of the matter who asked not to be identified because it was private. The insurer aims to...