UK jeweller GRAFF plans 1 billion dollar IPO in Hong Kong
London based GRAFF Group known for its diamond jewellery announced plans for an IPO next year on the Hong Kong Stock Exchange. The move by the Graff Group comes to respond to increased competition from major groups such as LVMH and Richemont.
Graff, which has stores worldwide, is not only retailing its diamond jewellery collections but also stocks some of the world’s most valuable diamonds. For instance, Graff owns a rose diamond of 24,78 carats, evaluated at over 46 million dollars.
According to market sources, the valuation of the company is at US$ 1 billion and it is still managed by its 73 year old founder, Lawrence Graff.