Billionaire Richard Li's FWD Group revives Hong Kong IPO plan, sources say

FWD is controlled by Hong Kong billionaire Richard Li who founded the insurance group in 2013

HONG KONG/SYDNEY: Billionaire Richard Li has revived plans to list pan-Asian insurer FWD Group in Hong Kong, said three people with direct knowledge of the matter, after regulatory delay and market volatility scuppered previous attempts to take it public.

Hong Kong-headquartered FWD could target a valuation of up to $9 billion in the initial public offering (IPO) depending on financial market conditions when launching the deal, one of the people said.