Slaughter and May advised on the Hong Kong IPO of FWD Group Holdings Limited

Slaughter and May, Hong Kong and Beijing, acted as legal counsel in connection with the global offering and listing of FWD Group Holdings Limited (“FWD”) on the Main Board of the Hong Kong Stock Exchange. The offering raised approximately HK$3.5 billion (approximately US$445 million) through the issuance of shares representing approximately 7.19% of FWD’s issued share capital immediately following the completion of the global offering (prior to the exercise of the over-allotment option).

Slaughter and May advised Morgan Stanley and Goldman Sachs, who served as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers. The firm also advised CMB International and HSBC in their roles as overall coordinators, joint global coordinators, joint bookrunners and joint lead managers, along with the other underwriters, on Hong Kong and U.S. legal matters related to the global offering and listing.

Founded in 2013 by Mr. Richard Li, FWD is a pan-Asian life and health insurer operating across ten markets: Hong Kong, Macau, Thailand, Cambodia, Japan, the Philippines, Indonesia, Singapore, Vietnam, and Malaysia.

Trading in FWD’s shares commenced on the Hong Kong Stock Exchange on 7 July 2025.

John Moore, Partner at Slaughter and May, Hong Kong, commented: “We are delighted to have advised on FWD’s landmark IPO, which marks a significant milestone for the company and the regional insurance industry. This transaction underscores Hong Kong’s continued role as a premier international capital markets hub, and we are proud to have supported our clients in bringing this complex and high-profile offering to market.”

Jing Chen, Partner at Slaughter and May, Hong Kong, added: “It was a privilege to work alongside our clients on this important transaction. We are pleased to have contributed our cross-border expertise to help navigate the legal and regulatory complexities of this offering.”