Graff files for flotation in Hong Kong
Friday 17 February 2012
London-based jewellery business Graff Diamonds is looking to sparkle in Hong Kong in April, with plans for a $1bn (£636m) float.
Graff yesterday filed the first documentation needed for its planned IPO in Hong Kong, following upmarket contemporaries Prada and Samsonite International on to the stock exchange. French brand L'Occitane debuted there in 2010.
The company was founded in 1960 by Laurence Graff, the sole owner of the luxury diamond brand. He opened his first shop in London in 1962 and now has more than 30 globally with plans for stores in Macau and Hangzhou in China, Gstaad in Switzerland and a second in Hong Kong this year.
The company, which sells some of the world's most expensive items of jewellery, including 100-carat diamond tiaras, is positive for 2012, despite some believing this year is unlikely to match the growth seen in 2011.
Sales figures for Graff are not available for 2011 but experts in the sector believe that they were in the region of $800m.
Unlike its much larger rival De Beers, Graff does not mine its own diamonds. However, Mr Graff has a stake in diamond manufacturers which supply the business with the high-end rocks needed.
- 1 The black and blue dress: Makers considering a white and gold version
- 2 Man to be beheaded in Saudi Arabia after ripping up a Koran and hitting it with his shoe
- 3 Husband and wife die holding hands within hours of each other after 67 years of marriage
- 4 PornHub turns masturbation into energy in bid to save the planet
- 5 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
Stephen Hawking's wife Jane Wilde on their marriage breakdown: 'The family were left behind'
PornHub turns masturbation into energy in bid to save the planet
Boko Haram: Thousands march in Cameroon to protest against the Islamist terror movement
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Kelly Osbourne leaves Fashion Police after Zendaya dreadlocks racism row
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...