FWD raises US$1.4bn from private placement ahead of HK IPO | IFR – International Financing Review
- Date: 14-Dec-2021
- Source: IFR
- Sector:Financial Markets
- Country:Middle East
FWD raises US$1.4bn from private placement ahead of HK IPO | IFR – International Financing Review
FWD Group, an Asian insurer controlled by Hong Kong billionaire Richard Li, has raised US$1.425bn from a private placement ahead of a Hong Kong IPO next year.
FWD, which had filed for a US IPO, has now decided to turn to Hong Kong instead for a listing that could come in the first half of next year, said people with knowledge of the matter.
To fulfil the requirements for a Hong Kong listing, FWD is planning to give up a proposed dual-class share structure that would have given Li more voting power than other shareholders, said the people.