Hong Kong int'l insurer FWD cancels New York IPO, raises $1.4bn from global investors

clock • 2 min read
Hong Kong int'l insurer FWD cancels New York IPO, raises $1.4bn from global investors

Asia-focused international insurer FWD Group is to cancel its longstanding plans for a $2bn-£3bn New York IPO listing, according to multiple media sources. The Hong Kong-headquartered insurer backed by billionaire Richard Li Tzar-kai instead announced on 14 December that it will raise $1.425bn in a private share placement expected to complete later this month to global investors including Apollo, CPPIB, Swiss Re and Siam Commercial Bank. Other investors include Li's Pacific Century Grou...

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