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Billionaire Richard Li's FWD Group Seeks to Raise $442 Million in Hong Kong IPO
- FWD Group, an insurance company supported by billionaire Richard Li, initiated a Hong Kong IPO on June 26, 2025, pricing 91.3 million shares at HK$38 each.
- The IPO followed a four-year capital-raising effort that began with a failed New York listing due to US regulatory delays over China ties before shifting focus to Hong Kong.
- The offering values FWD at HK$48.3 billion and attracted institutional investors such as Mubadala and T&D Holdings subscribing to US$150 million and US$100 million, respectively.
- FWD plans to use IPO proceeds to improve capital, reduce debt, and expand its customer base and digital strategies, with trading set to start on July 7, 2025.
- The successful IPO reflects a rebound in Hong Kong listing volumes after subdued years and positions FWD as a major insurer serving over 30 million customers across Asia.
12 Articles
12 Articles
Billionaire Richard Li's FWD Group seeks to raise US$442mil in Hong Kong IPO
KUALA LUMPUR: Insurer FWD Group, backed by billionaire Richard Li, is looking to raise HK$3.47 billion (US$442.08 million) through a Hong Kong initial public offering, according to a regulatory filing on Thursday. © New Straits Times Press (M) Bhd
Channel News Asia
Billionaire Richard Li's FWD Group seeks to raise $442 million in Hong Kong IPO
Insurer FWD Group, backed by billionaire Richard Li, is looking to raise HK$3.47 billion ($442.08 million) through a Hong Kong initial public offering, according to a regulatory filing on Thursday.The pan-Asian insurer is offering 91.3 million offer shares in total at an offer price of HK$38.00 apiece.
Mubadala Capital, T&D Said to Be Cornerstone Investors in IPO of Billionaire Li’s FWD
Mubadala Capital and Japan’s T&D Holdings Inc. are set to be cornerstone investors in insurer FWD Group Holdings Ltd.’s initial public offering in Hong Kong, according to people familiar with the matter.
Richard Li’s FWD Group seeks US$442m from Hong Kong IPO
Billionaire Richard Li’s FWD Group Holdings Ltd is seeking to raise HK$3.5 billion (US$442 million or RM1.9 billion) in a Hong Kong initial public offering, seizing on a hot market to finally launch a share sale initially planned four years ago.
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