Billionaire Richard Li’s Insurer FWD Refiles for Hong Kong IPO

(Bloomberg) — FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, has refiled an application for a Hong Kong initial public offering as it now weighs a listing next year amid market volatility.

The renewed filing will grant more time for the insurer to continue with preparations for a share sale in the city. The company has been seeking to raise about $1 billion in an IPO, which could take place as early as the first quarter, although the final size and timing haven’t been formally decided, Bloomberg News reported this month.