Jewellery retailer takes a shine to New York's number one exchange
Signet has announced that it will list on the New York Stock Exchange later this year.

The retailer, which has a market capitalisation of US$3.4 billion (£1.89 billion), makes 70 per cent of its sales through its US division, operating under its Kay Jewelers and Jared the Galleria of Jewelry banners.

The listing will commence on November 16, but no new shares will be issued. Instead, the retailer will transfer its listing from Nasdaq to the NYSE. Its American Depository Share (ADS) ratio will be changed from 10 ordinary shares per 1 ADS to 30 ordinary shares per 1 ADS.

Signet Group chief executive officer Terry Burman said: 'Signet is committed to raising its profile among US investors. Listing on the NYSE will provide an excellent platform to highlight to the US financial community our consistent record of growth.'

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