Richard Li-backed FWD insurance group publicly files for US IPO


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FWD Group, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai , has made public its plans for a US initial public offering , which is expected to raise as much as US$3 billion. The new filing overnight with the US securities watchdog did not disclose the number of American depositary shares (ADS) to be sold as it seeks to list on the New York Stock Exchange and FWD said in a press release that the offer price range has not yet been determined. As reported by the Post , the insurer previously made a confidential draft registration with...