Asia-based insurance company FWD Group is reportedly planning to raise up to $3bn from an initial public offering in the US next month, according to the South China Morning Post.
This comes after FWD’s holding company PCGI Intermediate Holdings made a filing in June 2021 with US regulator Securities and Exchange Commission (Sec) relating to a proposed initial public offering.
The media report said the listing will value the insurance group at around $13bn. If successful, FWD’s listing will be the biggest US flotation by a Hong Kong-based insurer.
FWD is the insurance arm of Pacific Century Group. It has operations in Hong Kong, Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, Cambodia and Malaysia.
A spokesperson for FWD declined to comment.