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Richard Li Tzar-kai

FWD first filed a listing application to the Hong Kong stock exchange in February 2022 but decided to postpone it three months later because of market volatility. Photo: Reuters

Insurer FWD keeps ‘close eye’ on market amid rumours it will refile for IPO

FWD Group Holdings said it is keeping ‘a close eye’ on market conditions amid speculation its owner, tycoon Richard Li Tzar-kai, wants to revive his plan to raise capital through an IPO in Hong Kong.

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

6 Jun 2024 - 11:16PM

Hong Kong’s Li Ka-shing donates HK$120 million to Stanford University

1 Mar 2024 - 11:58PM

Pacific Century downplays FWD stake sale, says IPO will come at ‘opportune time’

19 Feb 2024 - 10:15AM

Hong Kong fireworks back with bang as organiser promises National Day spectacular

The 23-minute National Day show will start and end with breathtaking effects, pyrotechnics expert Wilson Mao pledges.

15 Sep 2023 - 10:59PM

An artist’s impression of the fireworks display designed to celebrate National Day on October 1. Photo: Handout

Richard Li-backed insurer FWD postpones Hong Kong IPO plan for second time

FWD, which announced positive six-month results two weeks ago, said it ‘will assess the appropriate time’ to re-file the application, which it first submitted in February 2022.

14 Sep 2023 - 3:33PM

How Hong Kong tycoons in Southeast Asia paved way for more to tap region’s potential

City leader John Lee’s warm welcome in Malaysia, Indonesia and Singapore bodes well for investors.

14 Aug 2023 - 3:37PM

Exclusive | How FWD married two of Richard Li’s ‘loves’ to create only home-grown, pan-Asian insurer

A serendipitous meeting more than 10 years ago between a telecoms titan and a former Vietnamese refugee sowed the seeds for an insurance company that today covers against risks in seven countries along the ancient Silk Road.

14 Aug 2023 - 9:30AM

FWD has achieved a streamlined claims process, and ‘in Hong Kong, you can even receive payments at a 7-Eleven’, says Huynh. Photo: Edmond So

MTR Lab, Cyberport invest in sustainable Hong Kong logistics start-up alfred24

Hong Kong-based start-up alfred24 has been chosen as the first investee of a collaboration between MTR Lab and tech hub Cyberport to nurture digital and sustainable solutions in the city.

5 Apr 2023 - 4:00PM

Exclusive | Thailand’s wealthiest clan mulls setting up Hong Kong family office

Hong Kong’s government is eager to promote the city as the Asian hub for wealth management and philanthropy, and is poised to unveil incentives on Friday to attract family offices to set up.

22 Mar 2023 - 8:46PM

Hong Kong to offer goodies on Friday to entice wealthy family offices

The Hong Kong government will announce a slew of measures at a key wealth summit on Friday as it takes aim at Singapore and attract more wealthy people to set up family offices here.

22 Mar 2023 - 10:27AM

Hong Kong plans to unveil a range of policies to attract family offices set up shop in the city. Photo: Yik Yeung-man

Richard Li-controlled insurer FWD refiles Hong Kong IPO application

FWD Group Holdings on Monday afternoon refiled its application to list on the city’s stock exchange, having postponed its planned listing in May last year due to ongoing market volatility.

13 Mar 2023 - 10:16PMvideocam

An FWD hoarding in Hong Kong’s Causeway Bay. The underlying value of the insurer’s new business increased to US$806 million last year, according to its prospectus. Photo: Dickson lee

Philanthropy heavyweights expected at Hong Kong’s family-office summit

Hong Kong tycoons Richard Li Tzar-kai and Ronnie Chan Chi-chung, as well as a number of global financial and philanthropic heavyweights, are expected to attend a high-level forum aimed at attracting the world’s biggest family offices to Hong Kong.

7 Mar 2023 - 10:59PMvideocam

FWD to buy majority stake in Malaysian life insurer ahead of Hong Kong IPO

FWD and a group of investors will buy a 70 per cent stake in Gibraltar BSN Life from a subsidiary of Prudential Financial. The expansion is part of the insurer’s long-term strategy to expand across Southeast Asia.

20 Feb 2023 - 3:47PM

Top 6 Hong Kong, mainland China IPOs to watch out for in 2023

Ant Group, ByteDance, Syngenta, Amer Sports, FWD Group and Didi Global among the highly anticipated IPOs this year. Over 100 new listings are expected to raise around HK$200 billion (US$25.6 billion).

3 Jan 2023 - 12:30PM

Pando Finance CEO Ren Junfei at the listing ceremony of their two ETFs on the Hong Kong stock exchange on December 8, 2022. A flurry of IPOs are expected in the city this year. Photo: Handout

Jack Ma’s Ant Group, Richard Li’s FWD could be among top 10 Asian IPOs in 2023

After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles.

22 Dec 2022 - 1:40PMvideocam

Ant Group could launch an IPO next year after Chinese authorities hinted they would end an investigation into the fintech firm. Photo: Reuters

Probe into Mirror concert tragedy in Hong Kong may point to criminal negligence

Sources say preliminary findings show ‘criminal elements’ and ‘human negligence’ may be involved.

11 Nov 2022 - 4:00PM

Hong Kong fans mark birthday of injured Mirror dancer, call for inquiry results

Well-wishers send best wishes to dancer, still in hospital after giant television screen fell on him at July concert.

13 Oct 2022 - 9:11AM

Hong Kong tycoon to provide HK$10 million to dancer injured during Mirror concert

Billionaire Richard Li says he will provide financial support to Mo Li and his family, in addition to covering the performer’s medical fees.

13 Sep 2022 - 10:37AM

Mo Li was injured when a monitor collapsed onto the stage during a Mirror concert on July 28. Photo: Instagram

Fred Ma, former minister and FWD director, appointed chairman of insurer

Ma’s appointment as chairman is expected to help the insurer resume its postponed initial public offering, brokers said.

8 Jul 2022 - 7:00PMvideocam

FWD puts Hong Kong IPO plan on hold amid persistent market slump

Hong Kong’s Hang Seng Index has fallen 9.3 per cent this year, a slump that deterred companies from raising capital through IPOs, driving the city to sixth place among global IPO destinations in the first quarter.

31 May 2022 - 3:06PM

Investors still interested in Singapore-listed SPACs as global fundraising slows

SPACs face a ‘more challenging’ environment amid a slowdown in global fundraising for the investment vehicles, with only three such listings in Singapore this year since new rules were introduced.

19 Apr 2022 - 8:30AMvideocam

A person uses the escalator at the Singapore Exchange’s headquarters. Photo: Bloomberg

FWD files to list in Hong Kong, completing its switch from New York

FWD’s switch to Hong Kong followed the regulatory roadblock over US concerns about potential risks associated with the Chinese government extending its authority over Hong Kong-based firms.

1 Mar 2022 - 1:32AM

Richard Li’s FWD could file for US$1 billion Hong Kong IPO as early as Monday

FWD Group Holdings, the Asian insurer backed by Hong Kong billionaire Richard Li Tzar-kai, is close to filing an application for an IPO in the city this year, according to people familiar with the matter.

27 Feb 2022 - 6:50PM

Hong Kong tycoons are rushing to join Covid-19 fight. Where were they earlier?

Xi Jinping’s call for action cleared one key bottleneck – the Hong Kong government itself and its red tape, claimed an insider in the pro-Beijing camp.

19 Feb 2022 - 8:30AMvideocam

Exclusive | Hong Kong insurer FWD to drop New York IPO for hometown bourse

Hong Kong is being caught up in the crossfire amid rising geopolitical tensions between the US and China, giving the insurer cause for caution, the source said, citing Didi Global’s decision to delist from the New York Stock Exchange as an example.

14 Dec 2021 - 3:16PMvideocam

FWD is the insurance business of investment group, Pacific Century Group. Photo: Shutterstock

Hong Kong insurer FWD Group’s US IPO hits potential regulatory roadblock

The Securities and Exchange Commission is asking about potential risks associated with Beijing extending its authority over Hong Kong-based firms, people familiar with the matter said.

21 Oct 2021 - 10:30AMvideocam

A view of the FWD Tower in South Jakarta, Indonesia. Photo: Shutterstock

Richard Li-backed fintech Hyphen eyes SPAC deal with Provident

Hyphen Group’s merger with blank-cheque company Provident Acquisition could value combined entity at around US$1 billion, say sources.

13 Oct 2021 - 12:48PMvideocam

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

FWD Group, which plans to go public on the New York Stock Exchange, is seeking to raise US$2 billion to US$3 billion from its IPO, according to sources.

24 Sep 2021 - 10:16PMvideocam

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Richard Li Tzar-kai

Richard Li Tzar-kai is founder and chairman of Pacific Century Group (PCG), an Asia-based long-term private investment group founded in 1993 with interests in financial services, technology, media and telecommunications (TMT), and property. Li founded PCCW, which later acquired HKT, and the company has business lines in telecommunications, media and IT solutions. He leads the asset management company PineBridge Investments, insurance business FWD Group and runs Hong Kong-based Pacific Century Premium Developments and Singapore-based Pacific Century Regional Developments. Li was awarded the Lifetime Achievement Award by the Cable & Satellite Broadcasting Association of Asia in 2011, and is a member of the Center for Strategic and International Studies' International Councillors Group in Washington.

last updated:

29 July, 2024