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Reply #14: Hong Kong Jeweler Plans $3 Billion IPO [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-25-11 07:48 AM
Response to Reply #9
14. Hong Kong Jeweler Plans $3 Billion IPO
Edited on Fri Nov-25-11 07:52 AM by xchrom /

HONG KONG A large jewelry company based in Hong Kong is set to stage one of the largest initial public offerings in the world this year, with a listing that could raise more than $3 billion dollars next month despite the nervousness that is gripping global markets.

Chow Tai Fook Jewellery is offering 1.05 billion shares at between 15 Hong Kong dollars and 21 Hong Kong dollars each, a person with direct knowledge of the transaction said on Friday.

At the upper end of that range, the proceeds would total 21.05 billion Hong Kong dollars, or $2.83 billion an amount that could still rise by as much as 15 percent, to about $3.25 billion, if solid demand allows the company to sell more shares, according to the person, who was speaking on condition of anonymity because the details are not yet public.

*** xchrom wonders if chow tai is any relation to lee ho?

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