FWD plots next growth phase as Hong Kong IPO opens access to capital, CEO says
The firm's initial public offering (IPO) will help improve its capital structure and serve a bigger pool of clients in the coming years as demand for insurance protection increases with wealth creation, according to CEO Huynh Thanh Phong.
'A successful IPO is a very important milestone for us, but it is not the end-game for us,' he said in an interview with the Post on Sunday. 'The IPO gives us flexibility in capital management. It supports our vision of building a pan-Asian business that is based in Hong Kong and serves customers across Asia.'
FWD will make its trading debut in Hong Kong on Monday under the 1828 stock code.
Huynh Thanh Phong, Group CEO and executive director at FWD, during an interview in Taikoo Shing on July 6, 2025. Photo: May Tse
The insurer sold 91.3 million shares at HK$38 each, giving the company a market capitalisation of HK$48.3 billion. About
30 per cent of the IPO shares went to retail investors, tripling the initial allocation to meet excess demand. FWD has an option to sell a further 13.7 million shares through an overallotment to the IPO managers.
The Hong Kong stock exchange's main board hosted 42 IPOs in the first six months of this year, which generated US$13.5 billion in proceeds, making it the busiest venue globally for first-time stock offerings.
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