Graff Diamonds, retailer of some of the world’s most expensive jewellery, is planning a Hong Kong initital public offering that could raise $1bn and value the company’s equity at around $5bn, according to people involved in the deal.
The jeweller, which sells 100-carat diamond tiaras from its marble-clad boutique in London, is raising capital to expand its presence in Asia.
Laurence Graff, sole owner of the London-based company which is expected to make sales of about $800m in 2011, has hired Rothschild to advise on a listing expected next year. Hong Kong requires a minimum of 25 per cent of a company shares be freely traded.
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