FWD Group Makes Strong Debut on HK Stock Exchange, Raises HK$3.5bn

FWD Group, backed by Richard Li, debuts on the Hong Kong Stock Exchange, opening at HK$38. Shares settled at HK$38.40. The IPO raised HK$3.5bn through the sale of 91.34 million shares at HK$38 each, valuing the company at HK$48.3bn.

Proceeds from the IPO will enhance FWD Group’s capital position and financial flexibility, potentially reducing debt and supporting expansion efforts, including digital capabilities and market penetration. Morgan Stanley Asia and Goldman Sachs Asia were joint sponsors for the offering.

Richard Li emphasizes FWD Group’s focus on Asia’s insurance market. The successful listing marks the company’s third attempt to go public, including a halted New York IPO in 2021 and a postponed Hong Kong IPO in 2022 due to regulatory and market conditions.

Source: Life Insurance International. Information provided for general informational purposes, not as advice. Accuracy and completeness not guaranteed. Professional advice recommended before taking any action based on the content.

Read more at Yahoo Finance: FWD Group debuts on Hong Kong Stock Exchange