Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

According to Bloomberg sources, FWD Group Holdings’ IPO is said to stall amid regulatory concerns over “the long arm of the Chinese government”. The Asian insurance group has yet to secure the final approval from the US SEC for the listing. In addition, the SEC has been asking the insurer about the risks as to whether “the Chinese government could extend its authority to Hong Kong-based firms like FWD”.

Bloomberg News reported that the listing was expected to raise about $2-3bn and FWD was planning to start trading on NYSE this week. The source said that the insurer has not formally withdrawn its listing plans; however, the IPO is increasingly unlikely to be completed this year. There are also some pushbacks from some investors over regulatory risks and valuation concerns. FWD could revive its listing plans in NYSE at a later date if it receives regulatory approval and it could “opt to sell shares in a different market like Hong Kong or raise funds through other methods, like a stake sale”, said Bloomberg sources.

FWD’s dollar bonds were stable with its 5.5% Perp at 99.35, yielding 6.03%

For the full story, click here

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