FWD’s HK, international IPO tranches over-subscribed

The Hong Kong retail tranche was oversubscribed approximately 37 times.

FWD Group’s initial public offering saw strong demand across both retail and institutional tranches ahead of its debut on the Hong Kong Stock Exchange.

The Hong Kong retail tranche was oversubscribed approximately 37 times, prompting a reallocation of shares from the international tranche. Following the shift, 27.4 million shares—or 30% of the total offering—were allocated to retail investors.

The international tranche consisted of 63.9 million shares, distributed among 129 places, and included an over-allocation of 13.7 million shares.

FWD has also granted an over-allotment option, allowing up to 13.7 million additional shares to be issued within 30 days after listing to support price stability.

On June 26, FWD Group announced plans to offer 91.3 million shares at an indicative price of $38 per share.