FWD files US$512 million Hong Kong IPO as insurer nears end of four-year odyssey for funds

FWD Group has launched its long-anticipated initial public offering (IPO) in Hong Kong, as the pan-Asian insurer founded by local tycoon Richard Li Tzar-kai approaches the end of a four-year odyssey for capital that has taken it from New York back to his hometown.

FWD plans to sell 91.34 million shares at HK$38 each, according to a filing on Thursday to the Hong Kong exchange, valuing the insurer at HK$48.3 billion (US$6.15 billion). The insurer could upsize the IPO to 105 million shares and raise the gross proceeds to HK$3.99 billion, if an overallotment is exercised.

The 12-year-old insurer joins scores of companies that have flocked to raise capital in Hong Kong since late last year, pushing the city to the top of the global league table of IPO destinations.

Thirty-six companies, mostly mainland-based, have raised about US$12.9 billion on the Hong Kong stock exchange this year through June 25, surpassing the 2024 total of US$11.3 billion, according to data from the London Stock Exchange Group. Nasdaq ranked a distant second with US$8.7 billion from 69 issues.

Executive director Richard Li Tzar-kai will own 66.45 per cent of the insurer after the stock listing. Photo: Edmond So
Executive director Richard Li Tzar-kai will own 66.45 per cent of the insurer after the stock listing. Photo: Edmond So
FWD’s journey to the capital markets began in June 2021 when it applied confidentially to sell shares in New York, citing the size and liquidity of the US capital market for its choice over Hong Kong, in an IPO that was estimated at between US$2 billion and US$2.5 billion.
That plan soon ran into a roadblock, as US regulators stalled their approval with questions about potential risks associated with the Chinese government extending its authority over Hong Kong-based firms. While FWD serves more than 30 million customers in 10 markets across Asia, Li is one of Hong Kong’s wealthiest private entrepreneurs.

Source link

Visited 1 times, 1 visit(s) today

Related Article

【Emily】山頂設迪士尼打卡位吸客 - 20250627 - 港聞 - 每日明報

【Emily】山頂設迪士尼打卡位吸客 – 20250627 – 港聞 – 每日明報

港聞 2025年6月27日星期五 港聞二 康文場地改定位 紅館「演唱會優先」 沙田大會堂變粵劇場地 東九中心留作長期演出　新一輪「伙伴計劃」涵11場地 「騰更多檔期供不同藝團」　故宮館11月古埃及展 圖坦卡門巨像助陣　M+特展「廣東摩登」 探討藝術如何介入社會　監管令22月 青年申赴英國讀法律被拒 懲教委員會指未「去激進化」或危國安 事主申司法覆核　監管令助重投社會 鍾翰林事件後收緊　滕毅康再盜竊判感化 官：最後機會　港大出書分享ICU病人康復故事 無心跳63分鐘 奇蹟少女泰然憶生死　邵氏基金資助籌建診所 盼身心支援康復者　美國慶酒會 丘應樺致辭反關稅 梅儒瑞稱對教局「提示」失望 「港怎做超級聯繫人」　冒證券行「釣魚」騎劫戶口 4男騙百人4000萬元　施政報告建議 經民聯倡投資北都5年免稅　牙科街症中籤 可網上撤預約　商報廣告總監 索佣8罪罪成　巴士西九公路撞工程車 兩人送院　醫局新制  醫療事故總監主管需問責 按調查定責任誰屬 前線關注執行彭鴻昌盼公開指引　工傷索還治療費擬增 目標元旦同推　大耳窿學外賣派單招攬 有學生穿校服淋漆追數　骨科醫生箍頸案作供：事主倒地傷頸椎 非因警員　串謀非法集結囚逾兩年 3男女上訴被拒　潮行GBA：藝術振古村 文化歐洲傳　灣區手記：一人店眼淚 ／文：尚東美　【Emily】購物節5000店推19億元優惠 7至8月舉行 180品牌參與　【Emily】山頂設迪士尼打卡位吸客　【Emily】談莊雅婷選港姐 湯家驊：莫非有高人指點？　【Emily】港鐵4站廣告屏推互動遊戲　【Emily】「良師誨人不倦」 李家超：深受老師影響　 Source link

27 June 2025
Hong Kong woman opens up about life after moment her heart stopped beating

Hong Kong woman opens up about life after moment her heart stopped beating

More than a decade ago, Hongkonger Olivia Cheung Lok-man’s heart stopped beating for 63 minutes. She was a 19-year-old student at the time and had suffered a fulminant myocarditis attack, a rare and severe illness that can cause heart failure. Cheung, now a 30-year-old art teacher, has since developed the ability to cope with the

27 June 2025
巴士西九公路撞工程車 兩人送院 - 20250627 - 港聞 - 每日明報

巴士西九公路撞工程車 兩人送院 – 20250627 – 港聞 – 每日明報

港聞 2025年6月27日星期五 港聞二 康文場地改定位 紅館「演唱會優先」 沙田大會堂變粵劇場地 東九中心留作長期演出　新一輪「伙伴計劃」涵11場地 「騰更多檔期供不同藝團」　故宮館11月古埃及展 圖坦卡門巨像助陣　M+特展「廣東摩登」 探討藝術如何介入社會　監管令22月 青年申赴英國讀法律被拒 懲教委員會指未「去激進化」或危國安 事主申司法覆核　監管令助重投社會 鍾翰林事件後收緊　滕毅康再盜竊判感化 官：最後機會　港大出書分享ICU病人康復故事 無心跳63分鐘 奇蹟少女泰然憶生死　邵氏基金資助籌建診所 盼身心支援康復者　美國慶酒會 丘應樺致辭反關稅 梅儒瑞稱對教局「提示」失望 「港怎做超級聯繫人」　冒證券行「釣魚」騎劫戶口 4男騙百人4000萬元　施政報告建議 經民聯倡投資北都5年免稅　牙科街症中籤 可網上撤預約　商報廣告總監 索佣8罪罪成　巴士西九公路撞工程車 兩人送院　醫局新制  醫療事故總監主管需問責 按調查定責任誰屬 前線關注執行彭鴻昌盼公開指引　工傷索還治療費擬增 目標元旦同推　大耳窿學外賣派單招攬 有學生穿校服淋漆追數　骨科醫生箍頸案作供：事主倒地傷頸椎 非因警員　串謀非法集結囚逾兩年 3男女上訴被拒　潮行GBA：藝術振古村 文化歐洲傳　灣區手記：一人店眼淚 ／文：尚東美　【Emily】購物節5000店推19億元優惠 7至8月舉行 180品牌參與　【Emily】山頂設迪士尼打卡位吸客　【Emily】談莊雅婷選港姐 湯家驊：莫非有高人指點？　【Emily】港鐵4站廣告屏推互動遊戲　【Emily】「良師誨人不倦」 李家超：深受老師影響　 Source link

26 June 2025
China opens first offshore gold vault in Hong Kong

China opens first offshore gold vault in Hong Kong

AI-generated image. (Credit: Adobe Stock) The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong. The launch serves a number of purposes, from broadening the Shanghai bourse’s international reach, to strengthening China’s clout in commodity and currency markets

26 June 2025
Hong Kong Palace Museum to host city’s largest showcase of Egyptian artefacts

Hong Kong Palace Museum to host city’s largest showcase of Egyptian artefacts

The Hong Kong Palace Museum has signed an agreement with the custodian of Egyptian antiquities to host the city’s largest and longest-running exhibition of artefacts from the African nation, with 250 pieces on display from November. “Ancient Egypt Unveiled: Treasures from Egyptian Museums” will run for nine months starting from November 20 at the museum

26 June 2025
Former Hong Kong protester challenges travel ban in bid to study law

Former Hong Kong protester challenges travel ban in bid to study law

A former Hong Kong protester has lodged a judicial challenge against prison authorities’ decision to bar him from studying law in the United Kingdom on national security grounds, even after he completed his prison sentence for offences committed during the 2019 anti-government unrest. To Kai-wa on Wednesday sought a judicial review after the Correctional Services

26 June 2025
8 arrested in Hong Kong after HK$46 million lost in investor phishing scams

8 arrested in Hong Kong after HK$46 million lost in investor phishing scams

Hong Kong police have arrested eight people for allegedly making unauthorised stock transactions, manipulating the market and using phishing scams to swindle about HK$46 million (US$5.8 million) out of more than 130 victims based locally and overseas. Senior Superintendent Fanny Kung Hing-fun of the force’s commercial crime bureau said police had arrested seven men and

26 June 2025
0
Would love your thoughts, please comment.x
()
x