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Richard Li’s FWD keeps ‘close eye’ on market amid rumours insurer will refile for IPO
- A stock sale by FWD, which postponed its Hong Kong IPO twice last year, may value the 11-year-old insurer at as much as US$9 billion, Reuters reported
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Insurer FWD Group Holdings said it is keeping “a close eye” on market conditions amid speculation that its owner, the tycoon Richard Li Tzar-kai, wants to revive his plan to raise capital through an initial public offering in Hong Kong.
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A stock sale by FWD, which has postponed its Hong Kong IPO twice after an about-turn from New York in 2021, may value the 11-year-old insurer at as much as US$9 billion, according to a Reuters report.
“While we do not currently have an active listing application and no decisions have been made to refile at this stage, of course we continue to keep a close eye on capital market developments and conditions,” the company said in a statement to the Post.
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FWD has always wanted to conduct an IPO and is now making preparations to refile, according to a source familiar with the matter.
The preparation work is likely to take some time, the source told the Post.
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