FWD bookbuilding reportedly pulls in $13.1 billion ahead of HK debut

FWD Group has reportedly attracted HK$13.1 billion from retail bookbuilding for its new share sale closed on Wednesday at noon, marking an oversubscription of nearly 38 times.

The insurer, backed by billionaire Richard Li Tzar-kai, has recorded 62,000 subscribers, local media reported, citing sources.

FWD aims to raise HK$3.47 billion through a Hong Kong initial public offering, making 91.3 million shares available at HK$38 apiece.

The company's Hong Kong debut is set for July 7.

STAFF REPORTER