Luxury Graff Jewelry Company In London Prepares For Listing In Hongkong

Graff, London, May 23rd (Graff)

The company began a roadshow on Monday to prepare for its listing in Hongkong.

Its IPO (initial public offering) will be the largest listing in Hongkong this year, raising funds of up to $1 billion.

Laurence Graff, founder and CEO, and Fran OIS Graff, general manager of the company, hold an investor promotion conference in a hotel in Hongkong.

But they did not release any news to the media.

In a report submitted to the Hongkong stock exchange, the company said its turnover in 2011 amounted to $623 million 500 thousand, up from $454 million 300 thousand a year ago, thanks mainly to the rebound in sales after the financial crisis.

Britain accounts for more than half of its turnover, but its share in the Asian market has doubled to $120 million.

Net profit increased by 15% to $120 million 100 thousand.

The group currently has 18 stores in the world and plans to open five new stores in Asia in 2012.

As for the risks that investors are likely to face, Graff says the company's 40% turnover has come from more than twenty main customers in the past three years.

The roadshow will last until May 31st, when the listing price will be finalized.

According to media reports, the offer will raise $1 billion, which will be the second largest listing plan in Hongkong this year, after only 1 billion 680 million US dollars raised by Haitong Securities listed in April.

Graff hopes to list in Hongkong to promote brand development in the Asian market and profit from the booming Chinese luxury market.