Pallinghurst Resources to launch IPO for gemstones

Over the next six to nine months, Fabergé’s parent company Pallinghurst Resources, intends to float a multi-million dollar IPO. The IPO is in a London-based coloured gemstone business. This is following Pallinghurst’s plans to control more than 20% of world supply of gemstones in the markets it ventures into.

For this, Pallinghurst Resources would also buy mines that produce rubies, emeralds and sapphires from countries whch are not disclosed for now. The gemstones will be marketed under the Fabergé name.