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Chow Tai Fook diamond Jewelry Group Ltd. a Hong Kong based group has taken a huge leap by raising as much as HK$22 billion ($2.8 billion) in what could be Hong Kong's biggest initial public offering this year. The diamond jewelry chain, whose revenue is higher than rival Tiffany & Co.'s, is offering 1.05 billion new shares at HK$15 to HK$21 each, according to a term sheet sent to investors. Hong Kong based diamond jewelry has more than 1,400 outlets in china trying the buying limit of the investors. Founded in 1929 in the southern Chinese city of Guangzhou, this diamond jewelry company was named after founder Chow Chi Yuen and "Tai Fook" means fortune, prosperity and luck in Chinese.



