Chow Tai Fook Jewellery to start pre-marketing

At a reduced target of about $3 billion, the deal is set to become the biggest IPO in Hong Kong this year.

Bankers will start pre-marketing today of an initial public offering for Chow Tai Fook Jewellery a deal that looks set to exceed Prada as the largest listing in Hong Kong so far this year. The decision to go ahead with the deal comes after the issuer toned down its valuation expectations to reflect the current market environment.

The company initially planned to raise up to $4 billion, but is now aiming for a slightly less...

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