The diamond merchant’s Hong Kong listing taps directly into the growth of the 0.1 percent. But even the super-rich are vulnerable to a financial crisis. A sober appraisal, which hinges on the value of Graff’s enormous stockpile, suggests the $4 billion price is fair but no steal.
London-based jeweler Graff Diamonds started gauging investor interest Monday for its planned US$1 billion Hong Kong initial public offering, ahead of a listing in the city on June 7, people familiar with the situation said Monday. Read Post
Luxury diamond retailer Graff Diamonds will postpone a Hong Kong IPO launched earlier this month “due to adverse market conditions,” the company said in a statement this evening. (See link to the announcement here.) As originally p... Read Post