Pre-IPO FWD Group Holdings (PHIP Updates) - The Pain Points and the Outlook
Based on IPO pricing of HK$38, P/B is 1x, lower than AIA (2.3x), Prudential (1.8x).But if based on embedded value (EV), P/EV of FWD, AIA,...
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FWD IPO Trading - Tepid Demand
FWD Group Holdings (1828 HK), a pan-Asian life insurer founded by Richard Li, raised around US$442m in its HK IPO. In this note, we talk about the...
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FWD Group Holdings (1828 HK): Low Free Float Delays and Limits Global Index Inclusion
FWD Group falls short of minimum free float requirements prior to the lock-up expiry. It is expected to be added to Global All-World in September...
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Weekly Deals Digest (29 Jun) - FWD, HDB, Santos, PointsBet, New World, Dickson, HKBN, OneConnect
A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...
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FWD IPO Valuation: Intangible Assets Is the Key (Vs. Peers)
FWD has higher-than-peers intangible assets. Hence, using embedded value might be fairer than book value to assess its valuation vs. peers. On a P...
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