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Asian insurer FWD eyes 2023 Hong Kong IPO

Insurance major FWD Group Holdings is looking at launching its long-awaited initial public offering (IPO) in Hong Kong by 2023. The Asian insurer backed by billionaire Richard Li has been seeking to raise about USD1bn in an IPO. The company plans to refile its listing documents with more recent financial details after it decided in May to postpone its listing in the Asian financial hub due to a weak market. The updated filing would show earnings growth in H1 of this year. Considerations are ongoing and details such as size and timing could still change. FWD filed an application for first-time share sale in February after deciding to switch its listing venue to Hong Kong from the US, where it had sought an IPO that could have raised as much as USD3bn.

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