(Reuters) – Asian insurer FWD Group has raised $200 million in new funding in front of its planned Hong Kong dpo, based on two sources with direct knowledge of the problem.
The sources couldn't be named because the information hadn't yet been made public. FWD Group declined to comment.
Two new investors, ORIX Corp and Huatai Securities Co., took part in the non-public placement, the sources said.
ORIX declined to comment and Huatai didn't react to a request for comment from Reuters.
The deal means the Richard Li-backed FWD Group has raised $1.6 billion previously month following the company ditched its U.S. IPO plans.
The first capital raising of $1.4 billion valued FWD Group at $9 billion on the post money basis, sources told Reuters in December.
It now intends to carry out a Hong Kong IPO after it struggled to receive full approval from U.S. regulators to list out in Ny.
FWD Group had planned to boost $2 billion to $3 billion within the U.S. offering.
The company received preliminary approval in December from the Filing to carry out a marketing roadshow to investors, but nonetheless needed full sign-off from regulators, sources told Reuters at the time.
FWD has a business presence in 10 Asian markets, based on its website.
