Asian Insurer Fwd Group Raises $200M In Pre-Ipo Funding
01/19/22, 8:48 AM
Money raised
$200 million
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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.
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The 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.The first capital raising of $1.4 billion valued FWD Group at $9 billion on a post money basis, sources told Reuters in December. The company received preliminary approval in December from the Securities and Exchange Commission (SEC) to carry out a marketing roadshow to investors, but still needed full sign-off from regulators, sources told Reuters at the time.