Morgan Stanley are leading the transaction, they said.
IFR reported in February FWD was considering a listing in the US or Singapore in order to maintain a dual-class shareholding structure.
FWD has been working towards a Hong Kong IPO of up to US$3bn in mid-2021, IFR reported in September. That option, however, may not be compatible with its intended capital structure, people with knowledge of the matter told IFR at the time.
Hong Kong’s listing rules only permit weighted voting rights for innovative companies. FWD does not fully fit the exchange’s definition of that category, said the people.
What technology investors are looking for in China
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QUALCOMM Incorporated (NASDAQ:QCOM), SOFTBANK CP UNSP ADR (SFTBY) - Qualcomm Expresses Stake Acquisition Intent In Arm If Regulators Block Nvidia Deal: CNBC
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Chinese AI firm 4Paradigm pockets $700m led by Boyu, Primavera, Hopu
Source: Andy Kelly/Unsplash Premium
Chinese artificial intelligence (AI) giant 4Paradigm has raked in $700 million in a Series D round of financing jointly led by the country’s private equity (PE) companies Boyu Capital, Primavera Capital, and Hopu Investments, the firm announced in a statement on Friday.
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