FWD delays $1b IPO
A volatile market was the reason for the delay.
Asian insurer FWD Group Holdings Ltd is delaying its $1b initial public offerings because of volatility in the market, reports said.
Sources from the reports said that the insurer would resume its listing plans when the market becomes favourable.
This is just the latest in a string of delays for FWD’s IPO. The insurer, was reportedly just approve for its IPO in Hong Kong with the date of the IPO still unspecified.
FWD initially planned to list in the US however, the plan hit a snag because of political tensions between China and the US kicked off a wide range of crackdowns on firms listing overseas.
FWD is backed by Hong Kong billionaire Richard Li.
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