Goldsmiths and Watches of Switzerland Owner Plans London Stock Market Listing
- Aurum Holdings, owner of Goldsmiths and Watches of Switzerland, appoints Goldman Sachs and Barclays for IPO
- Company acquired by Apollo Global Management in 2012
- Public listing may take place in London next year
- Apollo abandoned similar talks with investors six months ago
- New plans could value the company at around £600m
- Aurum has a 36.4% share of UK watch market and 48% of Rolex sales in the country
Aurum Holdings, the parent company behind British jewellery retail chains Goldsmiths and Watches of Switzerland, has appointed Goldman Sachs and Barclays to manage its upcoming initial public offering (IPO) on the stock market next year. The company was acquired by New York-based Apollo Global Management in 2012 and is believed to be leading the public listing plans, which are still in their early stages. This news comes six months after Apollo abandoned similar discussions with investors. The new plans could prompt expressions of interest in the company, estimated to be worth around £600 million. Aurum Holdings also recently expanded into the US market through a $100 million (£75.5 million) acquisition of Mayors Jewellers. With nearly 150 physical stores in the UK and over 1700 employees, the company holds a 36.4% share of the watch market and 48% of all Rolex sales in the country.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Aurum Holdings’ plans for a public listing, its ownership, recent acquisitions, and market share without any sensationalism or bias.
Noise Level: 2
Noise Justification: The article provides relevant information about a company’s plans for a stock market flotation and its expansion into the US market, with details on its market share and recent acquisition. It is informative without being filled with noise or irrelevant content.
Financial Relevance: Yes
Financial Markets Impacted: Aurum Holdings’ public listing may impact financial markets as it is a significant player in the UK jewellery and watch retail market with a potential valuation of £600m. The appointment of banks for flotation indicates a possible change in ownership structure.
Financial Rating Justification: The article discusses Aurum Holdings, a company involved in the financial sector (jewelry and watches), and mentions its plans for a public listing which could impact financial markets due to its size and market share. Additionally, it involves banks managing the flotation process.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the text
www.retailsector.co.uk