Interesting Reading: Grading Lab IGI Aims to Go Public on Dec. 20
By Rob Bates –
December 09, 2024 –
JCK Online –
“International Gemological Institute (IGI), the world’s second-largest diamond grading lab, is going public and aims to begin trading on Indian stock exchanges on Dec. 20.”
“A 613-page red herring prospectus, dated Dec. 6, says the initial public offering will open for its first bids from Dec. 13 through 17. IGI hopes to raise 42.25 billion rupees (approximately $497 million), slightly less than the $569.65 million that Blackstone Group subsidiary BCP Asia II TopCo paid for the lab in 2023.”
A red herring, huh? Now isn’t that interesting.
To read Rob Bates’ editorial, Tap Here.
Antwerp – May 21, 2023 / Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have acquired International Gemological Institute (“IGI”) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (SHSE:600655), a subsidiary of Fosun, and Roland Lorie, who belongs to the founding family.
Founded in 1975 in Antwerp, IGI is a global leader in independent certification of diamonds, gemstones, and jewelry, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. IGI is the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. Since 2005, IGI has pioneered the certification of lab-grown diamonds, paving the authentication and standardization of a rapidly growing industry.
