Chow Tai Fook plans to raise $3.5 billion in IPO in HK

Chow Tai Fook Jewellery Group plans to launch an IPO in Hong Kong and expects to raise $3.5 billion, despite the uncertain economic conditions. It will offer 1.05 billion shares, 76.2 percent as primary shares and 23.8 percent as secondary shares, reports suggest. This offering is expected to be one of the biggest IPOs this year.

Book-building is expected to begin on November 28, pricing on December 8 and listing on December 15, 2011.

Chow Tai Fook boasts the largest jewellery retail chain, with 1,500 stores in Asia and is reputed as one of the best known brands in the region.