FWD Group raises $1.4 billion ahead of Hong Kong IPO: Report

Asia-focused insurer FWD Group has raised $1.4 billion via a private placement of shares ahead of its long-planned initial public offering (IPO) that will now be carried out in Hong Kong, according to two sources with direct knowledge of the matter.
 

A decision to shift to Hong Kong was made after regulatory approval for FWD's planned U.S. IPO of $2 billion to $3 billion was delayed.
 

The company received preliminary approval last week from the Securities and Exchange Commission (SEC) to carry out a marketing roadshow to investors but still required full sign-off from regulators, according to the sources.
 

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