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Graff readies for ‘epic’ $1bn IPO Monday, 28th May 2012
Photo credit: Graff Diamonds
Graff Diamonds will on Monday begin offering shares to retail investors ahead its Hong Kong floatation, already slated as Asia’s biggest IPO of the year.
The luxury jeweller told Reuters it had already received “tremendous interest” in the offering, which could reach USD 1 billion at its market debut on 7 June.
Despite a flailing European economy and a tempestuous global stock market, chief executive Francois Graff is confident of Graff’s ability as a public company.
"I think it's important to understand that our target audience is extremely resilient and very much insulated to the general gyrations of world economies," Graff told a media conference to launch the Hong Kong offer, as reported by Reuters.
As with other luxury houses, Graff is keen to tap into the promising Asian market.
"The opportunity that we perceive in China is an epic opportunity," Graff said.
The company will price the offer on Thursday, ahead of its stock debut on 7 June.