Biz News Flash

Jewelry IPO for Chow Tai Fook

(China Daily)
Updated: 2011-05-24 15:15

Billionaire Cheng Yu-tung's Chow Tai Fook Group hired Goldman Sachs Group Inc, HSBC Holdings Plc and JPMorgan Chase & Co for an initial public offering of its jewelry retail unit that may raise as much as $4 billion, two people with knowledge of the matter said.

The jewelry chain plans to start trading in Hong Kong in as early as the fourth quarter, said the people, who declined to be identified because the information is private.