HONG KONG — Hong Kong-based jeweler Chow Tai Fook is seeking to raise $2 billion in a Hong Kong initial public offering, pricing shares at the low end of the indicative price range, according to people familiar with the situation.
The jeweler, controlled by Hong Kong tycoon Cheng Yu-tung, priced 1.05 billion shares at 15 Hong Kong dollars, or $1.93, a share, the person said. The indicative range given on the company’s prospectus was 15 to 21 Hong Kong dollars, or $2.70, per share. The stock offering, which is scheduled to list next Thursday, will account for 10.5 percent of the company’s enlarged share capital.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)