Graff Diamonds gains approval from HK exchange

Pursuing its plans for an initial public offering (IPO) in Hong Kong, Graff Diamonds approached and has received approval from the Hong Kong stock exchange, reports say. The company plans to launch an IPO worth around $1 billion.

Although no specific timelines have been set for the pre-marketing, reports say that the company is looking at being listed in the second quarter of the year. Also, as per reports from a leading media, Credit Suisse Group AG, Deutsche Bank AG , Goldman Sachs Group Inc and Morgan Stanley are the joint global coordinators for the said IPO and HSBC , Barclays and ICBC International are underwriting the deal.

Graff Diamonds is based in London.