Goldsmiths parent company appoints banks for stock market float

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Goldsmiths float

The parent company of jewellery retailers Goldsmiths and Watches of Switzerland has drafted in two banks to help it launch a London stock market listing.

According to Sky News, Aurum Holdings – which currently trades from 150 stores across and employs over 1000 staff – has selected Goldman Sachs and Barclays to spearhead a public listing that is likely to take place in around a year’s time.

The plans, led by Aurum’s owner Apollo Global Management, are reportedly at an early stage.

While Apollo was reportedly leaning towards a listing in London, Zurich was also an option.

It is thought that a public listing will reignite interest in an acquisition of the company, which is understood to be worth more than £600 million, six months after Apollo Global Management scrapped a previous round of talks with investors.

The group recently cashed in on an expansion drive into the US with the $100 million acquisition of Mayors Jewelers.

Arum is the largest luxury watch retailer across the UK, boasting a 36.4 per cent market share in 2017, and the largest luxury watch retailer in Florida.

Arum’s sales in the UK were also boosted by a post-EU referendum bounce as the weakened sterling attracted an influx of tourists visiting for luxury shopping.

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