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Reuters reveals Hong Kong businessman Richard Lee’s FWD US IPO


ছবি Photo from Reuters file: Richard Lee, the youngest son of Hong Kong businessman and tycoon Li Ka-shing, March 26, 2011 Reuters / Bobby Ip

(Reuters) – FWD Group Holdings Limited, an insurance company owned by Hong Kong billionaire Richard Lee, filed for stock market listing in the United States on Thursday, boosting its revenue last year.

The insurer, which will list through an initial public offering, made 9.49 billion last year. The FWD added that its net loss for shareholders is limited to বছরে 23 million for the year ended December 1, 2020, compared to a loss of 27 227 million a year earlier.

The company secretly applied for listing in June. FWD has not yet finalized the terms of its IPO, but Reuters reported https://www.reuters.com/business/hong-kong-tycoon-richard-lis-fwd-files-us-listing-2021-06-17 it’s $ 2 billion And could raise between $ 3 billion, with the company valued at between বিল 13 billion and 15 15 billion.

Richard Lee is the son of Lee Ka-shing, the richest man in Hong Kong. FWD was founded in 2012 with a ড 2.1 billion acquisition of ING’s Hong Kong, Macau and Thailand units, and the bolt-on process has continued ever since.

The company’s major acquisitions include the লার 3 billion purchase of Siam Commercial Bank’s (OTC) life insurance unit in Thailand in 2019, just days after US insurer MetLife Inc. (NYSE) agreed to buy the Hong Kong operation.

Morgan Stanley (NYSE :), Goldman Sachs (NYSE 🙂 (Asia), JPMorgan, HSBC and CMB International are the underwriters for this offer.

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