Asian insurer FWD Group has raised $200 million in new funding ahead of its planned Hong Kong initial public offering (IPO), according to two sources with direct knowledge of the matter.
Register now for FREE unlimited access to Reuters.comThe deal means the Richard Li-backed FWD Group has raised $1.6 billion in the past month after the company ditched its U.S. IPO plans.of $1.4 billion valued FWD Group at $9 billion on a post money basis, sources told Reuters in December.
It now plans to carry out a Hong Kong IPO after it struggled to receive full approval from U.S. regulators to list in New York.The company received preliminary approval in December from the Securities and Exchange Commission to carry out a marketing roadshow to investors, but still needed full sign-off from regulators, sources told Reuters at the time.Register now for FREE unlimited access to Reuters.
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