HONG KONG/SYDNEY — Billionaire Richard Li has revived plans to list pan-Asian insurer FWD Group in Hong Kong, said three people with direct knowledge of the matter, after regulatory delay and market volatility scuppered previous attempts to take it public.
The logo of FWD group is seen on a building in Hong Kong, China, March 20, 2023.
"While we do not currently have an active listing application and no decisions have been made to refile at this stage, of course we continue to keep a close eye on capital market developments and conditions," a FWD spokesperson said. The insurer, which is present in 10 Asian markets, aimed to raise US$2 billion to US$3 billion in a New York IPO in 2021 but shelved the plan due to lengthy delays in obtaining US regulatory approval.
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