Goldsmiths parent company appoints banks for stock market float

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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