Cornerstone investors include Mubadala Capital, the alternative asset management subsidiary of Abu Dhabi-based Mubadala Investment Company. Mubadala Capital will subscribe for approximately HK$1.17 billion of the global offering.
FWD Group intends to use the net proceeds of the global offering to enhance its capital position and financial flexibility, which may involve reducing debt, to support growth and opportunities to further penetrate customer and channel reach across its operations, including enhancing its digital capabilities and strategy.
The Hong Kong public offering which begins on June 26, will end at noon on July 2. The allocation results will be announced on July 4. FWD Group shares are expected to begin trading on the Main Board of HKEX on July 7. under the stock code 1828. The shares will be traded in board lots of 100 shares each.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “FWD Group has come a long way since we founded the company in Hong Kong in 2013, with a mission of moving the life insurance industry in a new direction – centred around the unique needs of customers, leveraging the latest technology.
See also: CLI's China REIT to list by end of year; to raise $375 million issuing 400 million units
“Today, across our 10 markets in Asia, we’re focused on sustainable growth and value creation by changing the way people feel about insurance for the better. We’re doing this by designing compelling products and leveraging our tech-enabled distribution, as well as our distinctive brand, to meet the protection and savings needs of the region’s rapidly expanding middle classes and high-net-worth individuals.”
