(REUTERS) -- Luk Fook Holdings (International) Ltd, a Hong Kong gold and jewellery retailer and distributor, plans to raise about $125 million through a share placement to fund inventory purchases and expansion, IFR reported on Thursday.

The company is offering shares at HK$29.15 to HK$30.40 each, a discount of 6 to 9.9 percent to the previous close of HK$32.35, said IFR, a Thomson Reuters publication, citing a term sheet for the offering.

Goldman Sachs Group Inc was hired as sole bookrunner on the deal, IFR added.