Breakingviews - Richard Li redefines IPO success
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 26 2025
0mins
Source: Reuters
FWD's IPO Journey: Richard Li's pan-Asian insurer FWD is going public with a market capitalization of $6.2 billion after several failed attempts, significantly lower than the initial target of $15 billion in 2021.
Market Position and Future Prospects: Despite challenges in the insurance market, FWD's operating profit has grown by 29%, outpacing competitors, and the IPO aims to test market conditions while retaining ownership for future value appreciation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
