Richard Li’s FWD postpones its listing plan in Hong Kong amid persistent stock market slump, sources say

FWD Group Holdings, the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai, has decided to postpone its plan to list its shares on the city’s exchange due to ongoing market volatility.

The decision was made eight days after the insurer received the go-ahead from the listing committee of the Hong Kong stock exchange, according to a source familiar with the matter. The insurer, which ranks among the top three insurers in Thailand and the Philippines, had applied in February to raise about US$1 billion in an initial public offering in Hong Kong.