Latest news with #FWD
Car and Driver
5 days ago
- Automotive
- Car and Driver
View Exterior Photos of the 2026 Subaru Uncharted
Subaru is known for standard AWD, but it says it's offering the FWD model to serve as a price and range leader.
Business Times
07-07-2025
- Business
- Business Times
Richard Li's FWD rises in HK debut, reversing earlier declines
[HONG KONG] Billionaire Richard Li's FWD Group Holdings rose in its Hong Kong trading debut, reversing earlier declines, after an initial public offering (IPO) that raised HK$3.5 billion (S$570 million). The insurer's stock climbed 1.1 per cent to HK$38.40 on Monday (Jul 7), reversing a drop of as steep as 2.5 per cent. The debut comes after the tycoon – son of famed Hong Kong businessman Li Ka-shing – tried to take the company public in New York in 2021, which was abandoned after regulatory scrutiny. Subsequent efforts to list at home in Hong Kong were stalled as the city's IPO entered a prolonged slump. Now, with Hong Kong's equity markets rebounding, Li is seizing a more favourable window to raise capital for the crown jewel of his business empire. Investors' sentiment has been buoyed by a wave of multibillion-dollar deals, with IPOs and follow-on offerings raising US$37.4 billion so far in 2025 – the highest since the record-breaking year of 2021 and a sharp jump from US$5.1 billion during the same period last year. 'It's been a long journey,' FWD chief executive officer Huynh Thanh Phong said in a Bloomberg TV interview. 'Hong Kong, as you can see, is back in a big way, and we're extremely happy to be part of that comeback story post-Covid.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The city's stock benchmark, the Hang Seng Index, has risen about 20 per cent for the year. Insurers have been particularly hot lately, with shares of AIA Group and Prudential each rising since their April lows. Criss Wang, an analyst who writes on the Smartkarma platform, said that although FWD's stock may appear cheap based on book ratios, concerns about the company's potential impairment risks justify FWD shares trading at lower valuations than local peers. Richard Li, who founded the company in 2013, owns a 66.5 per cent stake in FWD through various corporate entities. His stake in FWD accounts for two-thirds of his US$6.1 billion net worth at the IPO price, according to the Bloomberg Billionaires Index. The insurer plans to use the proceeds to reduce debt, support growth and enhance its digital capabilities. BLOOMBERG
Business Times
07-07-2025
- Business
- Business Times
Richard Li's FWD rises in HK debut, reversing earlier decline
[HONG KONG] Billionaire Richard Li's FWD Group Holdings rose in its Hong Kong trading debut, reversing earlier declines, after an initial public offering that raised HK$3.5 billion (S$569.5 million). The insurer's stock climbed as much 2.1 per cent to HK$38.80 on Monday, reversing a drop of as steep as 2.5 per cent. It was at HK$38.40, up 1.1 per cent, at the midday break. The debut comes after the tycoon – son of famed Hong Kong businessman Li Ka-shing – tried to take the company public in New York in 2021, which was abandoned after regulatory scrutiny. Subsequent efforts to list at home in Hong Kong were stalled as the city's IPO entered a prolonged slump. Now, with Hong Kong's equity markets rebounding, Li is seizing a more favourable window to raise capital for the crown jewel of his business empire. Investors' sentiment has been buoyed by a wave of multibillion-dollar deals, with IPOs and follow-on offerings raising US$37.4 billion so far in 2025 – the highest since the record-breaking year of 2021 and a sharp jump from US$5.1 billion during the same period last year. 'It's been a long journey,' FWD chief executive officer Huynh Thanh Phong said in a Bloomberg TV interview. 'Hong Kong, as you can see, is back in a big way, and we're extremely happy to be part of that comeback story post-Covid.' The city's stock benchmark, the Hang Seng Index, has risen about 20 per cent for the year. Insurers have been particularly hot lately, with shares of AIA Group and Prudential each rising at least 35 per cent since their April lows. Richard Li, who founded the company in 2013, owns a 66.5 per cent stake in FWD through various corporate entities. His stake in FWD accounts for two-thirds of his US$6.1 billion net worth at the IPO price, according to the Bloomberg Billionaires Index. The insurer plans to use the proceeds to reduce debt, support growth and enhance its digital capabilities. BLOOMBERG
Business Times
07-07-2025
- Business
- Business Times
Richard Li's FWD Group falls in Hong Kong debut after HK$3.5 billion IPO
[HONG KONG] Billionaire Richard Li's FWD Group Holdings declined in its trading debut in Hong Kong after raising HK$3.5 billion (S$569 million) in an initial public offering (IPO), a bid to capitalise on the city's listing resurgence years after its initial try. The insurer's stock fell as much as 2.5 per cent on Monday (Jul 7) after selling 91.3 million shares at HK$38 apiece. The shares slipped in grey-market trading on Jul 4. The IPO values the company at more than US$6 billion, according to deal terms seen by Bloomberg. Mubadala Capital and Japan's T&D Holdings were its cornerstone investors, according to a filing. The debut comes after the tycoon, son of famed Hong Kong businessman Li Ka-shing, tried to take the company public in New York in 2021, which was abandoned after regulatory scrutiny. Subsequent efforts to list at home in Hong Kong were stalled as the city's IPO entered a prolonged slump. Now, with Hong Kong's equity markets rebounding, Li is seizing a more favourable window to raise capital for the crown jewel of his business empire. Investors' sentiment has been buoyed by a wave of multibillion-dollar deals, with IPOs and follow-on offerings raising US$37.4 billion so far in 2025 – the highest since the record-breaking year of 2021 and a sharp jump from US$5.1 billion during the same period last year. The city's stock benchmark, the Hang Seng Index, has risen about 20 per cent for the year. Insurers have been particularly hot lately, with shares of AIA Group and Prudential each rising at least 35 per cent since their April lows. Richard Li, who founded the company in 2013, owns a 66.5 per cent stake in FWD through various corporate entities. His stake in FWD accounts for two-thirds of his US$6.1 billion net worth at the IPO price, according to the Bloomberg Billionaires Index. The insurer plans to use the proceeds to reduce debt, support growth and enhance its digital capabilities. BLOOMBERG
Yahoo
07-07-2025
- Business
- Yahoo
FWD's Hong Kong and international offering shares over-subscribed ahead of HKEX debut
Shares in FWD are expected to commence trading in a board lot size of 100 shares on the Hong Kong Stock Exchange (HKEX) on July 7. FWD announced, on July 4, that its offer shares for its Hong Kong and international offerings have been over-subscribed. The Hong Kong public offering received 61,689 valid applications for a total of 339.2 million shares, representing about 37.1 times of the total number of 9.1 million Hong Kong offer shares available for subscription. As the over-subscription in the Hong Kong public offering was over 15 times but lower than 50 times of the offer shares, FWD reallocated 18.3 million offer shares from the international offering to the Hong Kong public offering. Following the move, the final number of offer shares under the Hong Kong public offering is now at 27.4 million shares, or 30% of the shares available under the global offering, before the exercise of the over-allotment option. FWD's international offer shares were also over-subscribed, with an over-allocation of 13.7 million offer shares and a total of 129 placees. After the reallocation of the international offer shares to the Hong Kong public offering, the international offer shares now total 63.9 million. As a result, FWD has granted the over-allotment option to the international underwriters. This is exercisable by the joint representatives at any time from the effective date of the international underwriting agreement until 30 days after the last day for lodging applications under the Hong Kong public offering. FWD may then be required to issue and allot up to a total of 13.7 million additional shares under the international offering to cover any overallocation. FWD, on June 26, announced that it intended to offer 91.3 million shares at an indicative offer price of HK$38 ($6.16) per share. The news came after the group refiled to list on the HKEX in May this year. If the over-allotment option is exercised, FWD is likely to receive gross proceeds of HK$3.99 billion or US$512 million. If the over-allotment option is not exercised, the group will receive gross proceeds of about HK$3.47 billion or US$445 million. Shares in FWD are expected to commence trading in a board lot size of 100 shares on the Hong Kong Stock Exchange (HKEX) on July 7. 1% higher at A$4.33 Info-Tech's 24.86 mil shares 7.3 times oversubscribed at IPO Lum Chang Creations to list on Catalist with Mainboard in mind Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
