GRAFF Diamonds could raise 1 billion dollars on Hong Kong IPO
London based jeweler Graff Diamonds on Monday launched its road show with investors prepare for his introduction to the Hong Kong Stock Exchange, which could be one of the most important of the year on this site. According to press reports, the jeweler could raise a billion dollars (782 million) with this operation.
In a document submitted to the Hong Kong Stock Exchange, the company claims to have achieved a turnover of 623.5 million USD in 2011, against USD 454.3 million the previous year, thanks to a rebound in sales after hollow caused by the financial crisis. Britain accounts for over half of sales but the share of Asia has doubled to 120 million USD. Net profits rose 15% to 120.1 million USD. The group has 18 stores worldwide and plans to open five more in Asia in 2012.
Among the risks that should be familiar with potential investors in the capital of Graff, the jeweler said that 40% of its revenues depended in the past three years, two dozen large customers. The tour of investors scheduled to continue until May 31, when the IPO price will be fixed according to the sheet driving consulted by Dow Jones Newswires.
Graff wants to enter the Stock Exchange of Hong Kong to promote its brand in Asia and take advantage of the appetite of Chinese mainland billionaires for luxury goods