Richard Li’s FWD files confidentially for US IPO – International Financing Review

Richard Li’s FWD files confidentially for US IPO – International Financing Review

FWD Group, the Asian insurer backed by billionaire Richard Li, has filed confidentially for a US IPO, according to a company statement.

The filing comes under FWD holding company PCGI Intermediate. The statement did not mention the size and timing of the offering.

The float could raise up to US$3bn in the third quarter, according to people familiar with the situation. Goldman Sachs, HSBC, JP Morgan and Morgan Stanley are leading the transaction, they said.