Graff Diamonds Corp., the London- based jeweler founded in 1960, plans to open 11 new stores in Asia, including eight in China, in the next two years after a $1 billion initial public offering in Hong Kong.
Graff Diamonds Corp. shelved a $1 billion initial public offering in Hong Kong as Europe’s debt turmoil drives first-time stock sales to the lowest level since the collapse of Lehman Brothers Holdings Inc.
Graff Diamonds Ltd., the jewelry retailer whose founder twice set records buying gems at auction, plans to use funds from a proposed share sale to add stores in Asia as the region’s demand for luxury goods grows.
Graff Diamonds Ltd., the London- based retailer whose founder twice set records buying gems at auction, may conduct an initial public offering to raise as much as $1 billion in Hong Kong in the second quarter of this year, said two people with knowledge of the matter.
U.K. jeweler Laurence Graff sold a diamond for $5 million and bought a Jean-Michel Basquiat painting for 3.5 million euros ($4.5 million) yesterday as the world’s largest antiques and art fair opened in the Netherlands.