The billionaire Richard Li’s FWD Group Holdings Ltd. climbed into Hong Kong in his trade debut and returned after a first public application, which increased $ 3.5 billion ($ 442 million).
The insurer’s share rose by 2.1% to $ 2.1% on Monday and reversed a decrease of up to 2.5%. It was $ 38.40 HK at lunch break, by 1.1%.
The debut takes place after the Tycoon-der from the famous businessman of Hong Kong, Li Ka-Shinge to take over the company public in New York in 2021, which was abandoned after regulatory examination. Subsequent Efforts To listen at home in Hong Kong were stall When the city’s IPO entered a long break -in.
Now that Hong Kong’s stock markets are reasonably used, LI takes a cheaper window to obtain the capital for the crown jewel of his business empire. The mood of the investors was moved With a wave of multi-billion dollars, in which IPOs and follow-up offers so far collect $ 37.4 billion-and the highest of the last year and a strong leap of $ 5.1 billion in the same period of the previous year.
“It was a long journey,” said the CEO of FWD, Huynh Thanh Phong, in a Bloomberg -TV interview. “As you see, Hong Kong is again in a great way and we are very happy that we are Postkovid part of this comeback story.”
The city’s stock bank, the Hang Seng Index, has increased by about 20% for the year. The insurers have been particularly hot lately because the AIA Group Ltd. And Prudential PLC has been increasing at least 35% since their depths in April.
Richard Li, who founded the company in 2013, has a share of 66.5% in FWD via various company companies. According to the Bloomberg Millionaires Index, its share of FWD is two thirds of its $ 6.1 billion dollar networks at the IPO Prize.
The insurer plans to use the proceeds to reduce debts, support growth and improve its digital skills.
