Chow Tai Fook, the world’s biggest jewelry company to offer $3 billion IPO

If you have never heard of Chow Tai Fook, you will now. Chow Tai Fook is the world’s biggest jeweler owned by Hong Kong billionaire Cheng Yu-tung. It is in news because the 80 year old company is planning to offer their IPO valued at $3 billion to the public. Although it is virtually unknown in the West, it has a huge presence in Asia The company owns 1,500 jewelry stores and has an annual growth of 60%. As affluent Chinese demands for gold and diamonds are on the rise, Chow Tai Fook plans to continue targeting this demographic. The listing for the IPO is set for December 15th of this year.

READ:  Louis Vuitton Singapore unveils Cruise 2012 collection of jewelry and watches