Hong Kong Insurer FWD Makes Market Debut
After pulling out from previous listing applications, insurer FWD has finally made its market debut on the Hong Kong exchange.
FWD has begun its first day of trading on the main board of the Hong Kong Stock Exchange, according to a statement.
The insurer said that it intends to use the net proceeds from the listing to «further enhance its capital position and financial flexibility, which may involve reducing debt, to support growth and opportunities to further penetrate customer and channel reach across its operations, including the enhancement of its digital capabilities and strategy».
Third Application
FWD made its market debut on its third application for an initial public offering after pulling out in 2022 and 2023 due to market uncertainty.
«Today’s listing is an important milestone for our customers, our partners and our teams across Asia, and highlights Hong Kong’s continued strength as a good listing destination,» commented Richard Li, Pacific Century Group chairman, FWD Group founder and son of Li Ka-shing, Hong Kong’s richest individual.
Established in 2013, FWD is a pan-Asian life and health insurance business that serves around 30 million customers in 10 markets, including BRI Life in Indonesia.
