FWD Group raises $1.4b ahead of potential IPO in Hong Kong

FWD Group raises $1.4b ahead of potential IPO in Hong Kong

FILE PHOTO: Richard Li, Hong Kong businessman and younger son of tycoon Li Ka-shing, waves as he arrives to vote during the election for Hong Kong's next Chief Executive in Hong Kong, China March 26, 2017. REUTERS/Bobby Yip

Asia-focused insurer FWD Group has raised $1.4 billion via a private placement of shares, according to a company statement on Tuesday, ahead of its long-planned initial public offering (IPO) which two sources said will now be carried out in Hong Kong.