Luxury Watch Retailer Chronext Plans IPO Amid Online Boom
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Chronext AG plans to list on the Swiss stock exchange as the online luxury-watch retailer enjoys a boom in demand led by younger generations.
The company plans to raise about 250 million francs ($273 million) and existing shareholders plan to sell an unspecified amount of additional shares, the company said in a statement. The selling holders will also make existing stock available for a possible over-allotment comprising as much as 15% of the shares sold.