FWD delays IPO until 2023

The string of delays was caused by unstable market conditions.

FWD Group is eying to finally launched its initial public offering in the Hong Kong market in 2023, according to a report from Bloomberg.

This report is just the latest in the string of delays the insurer has faced due to unstable market conditions.

The report said that FWD plans to refile its listing documents with more recent financial details as soon as next week. The updated filing would show earnings growth in the first half of this year despite headwinds faced by the industry due to the pandemic.

FWD initially planned to launch an IPO in the US, planning to raise $3b. The plan hit a snag as the US cracked down on Chinese firms listed overseas.