There is definitely a sense of IPO’s in the air..
We reported earlier this year that Italian cashmere specialist Brunello Cucinelli were looking at listing on the Milan Stock Exchange.
London-based jeweller Graff Diamonds Ltd are looking to also list on the stock exchange, but rather than list on any volatile stock exchanges in Europe, they are opting for the Hong Kong Stock Exchange.
Graff, the fabulously chic fine jeweller was started by Laurence Graff. This ‘modern’ luxury British fine jewellery house that is less than 50 years old has an incredibly iconic handwriting and global appeal.
But as the old saying goes, nothing is set in concrete just yet with speculation and sources just being used at the moment about the possible IPO.
Bloomberg reports that Graff may conduct an initial public offering to raise as much as $US1 billion in Hong Kong in the second quarter of this year.
A number of fund groups including Morgan Stanley declined to be identified because the information is private.
Mr Graff has quite a keen eye when it comes to jewellery and hitting the auction floors.
He paid a staggering $US49.6 million for a diamond in 2010 and earlier parted $US25.7 million for a 35.56 carat Wittlesbach Diamond at Christie’s International in London in 2008.
We will keep an eye on this possible IPO.
Image credit: forbes.com
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