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Prada to float on Hong Kong market

Prada to float on Hong Kong market

Write: Antigone [2011-05-30]
Prada to float on Hong Kong market

A Prada store. The fashion company is scheduled to list on Hong Kong on June 24.

Italian fashion house Prada SpA yesterday began to gauge investor demand for its Hong Kong initial public offering, according to a sales document.

The Milan-based fashion company is selling a total of 423 shares to raise about US$2 billion through the offering, according to a Bloomberg report. The company is scheduled to set a price range on June 6 and list in Hong Kong on June 24, the document shows.

Buoyed by the robust market for high-end products on China's mainland, the Hong Kong Stock Exchange has become a popular destination for luxury brands seeking growth, both from home and abroad.

Milan Station Holdings, a Hong Kong-based retailer of second-hand luxury branded handbags that raised $35 million from its IPO, soared 66% on its trading day of trading on Hong Kong market, reinforcing the perception that consumer retail remains a favoured sector.

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