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IPO

Hong Kong billionaire Richard Li's insurance unit seeks US IPO

FWD targets fundraising of about $3 billion for further acquisition plans

FWD, a Hong Kong-based insurer backed by Richard Li, has filed confidentially for a U.S. initial public offering. (Source photos by Reuters)

HONG KONG -- Hong Kong billionaire Richard Li's insurance business FWD is heading for a U.S. initial public offering, according to a confidential filing by its parent holding group.

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