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Aug 2022

Hong Kong: FWD seeks US IPO

Source: Asia Insurance Review | Jul 2021

PCGI Intermediate, the parent company of FWD Group and FWD, has filed confidentially for a US initial public offering, moving ahead with preparations for a long-awaited listing, according to a report by Bloomberg.
A statement from the group released last month confirmed the planned share sale but did not specify the size and timeline of the offering.
FWD, the Hong Kong-headquartered Asian insurer backed by billionaire Richard Li, is considering raising about $2bn from the IPO, according to people familiar with the matter. A listing could value the insurer at about $13bn, the people said, asking not to be identified as discussions are private.
FWD has made numerous acquisitions across Asia in recent years since its formation in 2013, and has a presence in markets including Hong Kong, Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia. A 
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