FWD Group again files for Hong Kong listing

FWD Group, a Hong Kong-based insurer backed by billionaire Richard Li Tzar-kai, said on Monday it has again applied to list on the main board of the Hong Kong Exchanges and Clearing (0388).

The company did not give any financial or other details.

Its previous attempts to go public were scuttled by regulatory delays and market volatility.

It had targeted a valuation of at least US$10 billion (HK$78 billion) in 2022, when it first attempted an initial public offering (IPO).

That had dropped to up to US$9 billion in the middle of last year, when Li revived plans to list the pan-Asian company, Reuters reported.

Li founded FWD in 2013 and controls the company through investment arm Pacific Century Group, which holds stakes in industries including technology, media, telecommunications, property and finance.

REUTERS