Graff Diamonds Plans Hong Kong IPO in 2012

Graff Diamonds intends to raise $1 billion though an initial public offering (IPO) in Hong Kong next year. A source familiar with the deal told the Financial Times that the jeweler will use the funds to expand production of high-end pieces, open more stores in Asia and finance a larger inventory of rare gemstones.

The company is in the process of sending out requests to hire underwriters this week and has hired Rothschild to advise on the listing. Graff currently has stores in the Peninsula Hotel in Hong Kong, Tokyo, Shanghai and Beijing, with two stores set to open in Hangzhou and Macau in 2012.

Leave a Reply

Your email address will not be published. Required fields are marked *