Richard Li’s FWD files for NYSE IPO; Li Ka Shing shows support | IFR – International Financing Review

Richard Li’s FWD files for NYSE IPO; Li Ka Shing shows support | IFR – International Financing Review

FWD Group, the Asian insurer backed by billionaire Richard Li, has filed publicly for an NYSE IPO which IFR reported in June could raise up to US$3bn.

Morgan Stanley, Goldman Sachs, JP Morgan, HSBC and CMB International are the bookrunners.

Li Ka Shing Foundation, which was founded by Richard Li’s father, billionaire Li Ka Shing, has indicated interest to subscribe to US$300m of the IPO, according to the filing. PCCW has also indicated interest of US$100m with another US$100m to come from Pacific Century Group, the controlling shareholder of FWD.