FWD, the Asian Agency Supported by Hong Kong billionaire Richard Li, has Registered Confidentially to an initial public offering in the U.S.
PCGI Intermediate, FWD’s holding company, said on Thursday it Has filed a draft registration statement to the U.S. Securities and Exchange Commission for an IPO without specifying the exact size or time of the offering.
FWD has allegedly been contemplating increasing about $3 billion via an IPO From the U.S. or Singapore that will let it keep its dual-class shareholding structure. It was also thought to be contemplating a merger with a special purpose acquisition company (SPAC) from the U.S.
Launched in 2013, FWD is that the insurance company controlled by Li’s FWD’s minority investors, comprise Swiss Re AG, GIC Ventures, RRJ Capital and Hopu Investments.
Although his dad, Li Ka-Shing, was rated No. 1, the younger Li has Established a distinct company empire with interests that span fiscal Solutions, technology and real estate. His present net worth is estimated at $4.4 billion.
