FWD (01828.HK), a life insurance company under Richard Li, announced its IPO details, planning to globally issue 91.3421 million shares, with approximately 10% for Hong Kong public offering and about 90% for international offering.

The offer price per share was HKD38. The entry fee of each board lot of 100 shares approximated HKD3,838.32. The IPO opens today (June 26) and will close at noon next Wednesday (July 2), with expected listing on July 7. The joint sponsors are Morgan Stanley and Goldman Sachs.

The company introduced MC Management 10 RSC under Mubadala Capital of Abu Dhabi and T&D United Capital under T&D (8795.JP) as cornerstone investors, subscribing to USD250 million worth of shares of the company.

FWD's listing was expected to raise net proceeds of approximately HKD2.953 billion.
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