London-based company’s profit forecasted to rise 42% in 2012.

Graff diamonds has begun meetings in Hong Kong to gauge the market ahead of the launch of its IPO.

The company will spend two weeks meeting with advisers, hedge fund managers and investors from around the world before it decides on a price range for its shares.


Graff is forecasted to be in profit of £264m (£163m) by 2014, while profit is expected to rise 42% in 2012 compared to 2011, 29% in 2013 and 23% in 2014.

The company’s focus on Asia is said to be tapping into the equity markets in Hong Kong while, in an interview last year, Graff’s founder Laurence Graff said that the company is betting on the resilient demand for diamonds and high-end jewellery, according to the daily newspaper City Am.

Graff has hired leading investment banks Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley a joint global coordinators of its IPO launch.

However, the company’s decision to list its shares in Hong Kong instead of London has been dubbed “a bitter blow” to the London market, as the company was founded in London in the early 1960s and its headquarters remain in the city.