Jul 07, 2025 (MarketLine via COMTEX) --
FWD Group, a pan-Asian insurer backed by billionaire Richard Li, has made its trading debut on the Hong Kong Stock Exchange (HKEX) on 7 July.
The shares opened at HK$38 ($4.94), matching the IPO offer price. By the close of trading, FWD shares settled at HK$38.40, as per various media sources.AA
The insureraEUR(TM)s IPO raised HK$3.5bn($442m) through the sale of 91.34 million shares priced at HK$38 each, valuing the company at HK$48.3bn.A
The insurer plans to utilise the net proceeds from the IPO to bolster its capital position and financial flexibility.AA
The funds may be directed towards reducing debt and supporting expansion efforts, including strategies to enhance digital capabilities and increase market penetration across its operations.A
Morgan Stanley Asia and Goldman Sachs Asia were appointed as joint sponsors, joint global coordinators, joint bookrunners, and joint lead managers for the offering. A
Commenting on the debut, Richard Li said: aEURoeFWD Group is an international team of financial professionals focused on the fastest-growing insurance market in the world aEUR" Asia. TodayaEUR(TM)s listing is an important milestone for our customers, our partners and our teams across Asia, and highlights Hong KongaEUR(TM)s continued strength as a good listing destination.aEUR A
The successful listing represents FWD Group's third attempt to go public.A
This includes a planned New York IPO in 2021 targeting $2aEUR"3bn, which was halted due to regulatory approval delays in the US, with particular attention given to the companyaEUR(TM)s ties to mainland China.AA
AnotherAattempt for a Hong Kong IPO in 2022 was postponed in response to volatile global financial markets.A
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COMTEX_467067660/2227/2025-07-07T16:06:26
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