Hong Kong jeweler Chow Tai Fook plans to go public in Hong Kong, raising as much as 22bn HK dollars.

»Chow Tai Fook Jewellery Group Ltd, a Hong Kong-based jewelry chain, plans to raise as much as 22bn HK dollars (2.8bn U.S. dollars) in what may be Hong Kong's biggest initial public offering this year.

»Chow Tai Fook, with revenue greater than Tiffany & Co, set a price range of between 15 HK dollars and 21 HK dollars each for the 1.05 billion new shares on sale, according to a prospectus released on December 4th.

»The jeweler may have a market value of 15bn-21bn HK dollars after going public, twice the size of Tiffany, the international jewelery company.

Source:caijing