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Watches of Switzerland Prices IPO With £647 Million Valuation

Britain's biggest watch retailer has set the price for its listing at 270 pence per share and is set to raise around £220 million.
A hand holding and wearing four Cartier watches in silver and gold.
Cartier watches | Source: Cartier (Cartier)
By
  • Reuters

LONDON, United Kingdom — Britain's biggest watch retailer Watches of Switzerland Group Ltd said on Thursday it has set the price for its listing at 270 pence per share, near the upper end of the range targeted at the launch of the deal.

Trading in the company, which sells brands such as Rolex, Richemont's Cartier and Swatch Group's Omega, is set to begin at 07:00 GMT on the London stock exchange. The listing of 34 percent of the company is set to raise around £220 million, valuing the whole at £647 million.

By Lawrence White; editor: by Susan Fenton.

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