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Graff Diamonds, the jeweler for the rich and famous of the world is all set to become increasingly more accessible in the Asian market in the coming years. The diamonds jewelry giant has decided to take the first step towards making a foray in the greater China region and Asia. This first step comes in the form of an impending IPO in the Hong Kong market that will be launched in the coming year. As per reports, the company has plans to have a whopping 1 billion American dollar listing in Hong Kong and has already begun preparations for the same by starting the procedure for hiring the required underwriters. The planned IPO of 1 billion American dollars is expected to take the total equity value of the company to around 5 billion dollars.

It is also worth mentioning that Graff Diamonds will undertake the whole Hong Kong listing procedure with financial help from Rothschild which it has hired in the role of advisor. The logic behind the move, as per many industry experts, is very sound because China and Hong Kong together are seen as one of the most potent markets on the global scale of the future. The Hong Kong exchange has become somewhat of a hot destination for large foreign entities to get listed on, as can be seen from the successes that companies such as Prada SpA and United Co. Rusal have achieved through their IPOs. Prada SpA raised around 2.47 billion American dollars through a Hong Kong IPO in June, 2011 while United Co. Rusal managed to raise 2.3 billion American dollars through its Hong Kong IPO in January, 2010.

This public listing of a diamonds giant is expected to give the quickly burgeoning global diamond industry another shot in the arm. Other examples of the global diamond industry growing at a tremendous rate would be recent developments such as Anglo American taking over the equity stake of the Oppenheimer family of the largest rough diamond producer in the world i.e. De Beers and the Russian state owned mining giant Alrosa also moving towards a listing.

As is only logical, Graff Diamonds is expected to use the proceeds from this listing to not only open stores in Asia with the focus being on the greater China region but also finance an increase in its inventory of high end stones. The diamond jewelry giant already has numerous boutiques in the region with some high profile examples being stores in peninsula hotels located in Hong Kong, Tokyo, Beijing and Shanghai.

Graff Diamonds is a company that was established in London, England in 1960 by a well known jeweler Laurence Graff and has recently become very famous because of the Graff Pink, a 25 carat pink diamond purchased by the head of the company. It is worth pointing out that the company does not focus on mining the diamonds. It instead acquires rough jewels and processes them in terms of polishing, cutting and setting them in jewelry, before selling them for a profit.

 

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Tags: Asian Market, Graff Diamonds, Market

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