Prada's Board Approves Hong Kong Listing

Date : 01/27/2011 @ 8:45AM
Source : Dow Jones News

Prada's Board Approves Hong Kong Listing

Intesa Sanpaolo (BIT:ISP)
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Italian fashion company Prada SpA may list its shares in Hong Kong after its board approved a plan to pursue an initial public offering there, MF-Dow Jones reports a company spokesman as saying Thursday.

Prada, which generates around EUR2 billion in annual sales, has long entertained plans to list its shares but has always backed away at the eleventh hour, most recently in 2008.

Prada said its board gave mandates for global coordination and bookrunning for the IPO to Intesa Sanpaolo SpA (ISP.MI) unit Banca Imi, Unicredit SpA (UCG.MI), Credit Agricole SA (ACA.FR) and Goldman Sachs Group Inc. (GS).

People with knowledge of the situation told Dow Jones Newswires on Jan. 23 that the company could be worth at least EUR6 billion and that its bourse debut could take place as early as July.

-By Guglielmo Valia, MF-Dow Jones; Sabrina Cohen, Dow Jones Newswires; +39-06-6976-6920;

(Christopher Emsden in Rome contributed to this article.)


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