Prada Seals IPO Deal
The wait is reportedly over for the Prada offering. According to Reuters, the IPO is reportedly planned for Hong Kong, though it could happen at a different stock exchange. There is still no word on timing, but the newswire reported that the board of the Italian fashion house finally approved the float, on Thursday.
Miuccia Prada, the granddaughter of the company’s founder, Mario Prada, is at the helm of design at the couture house. Prada also owns the brand Miu Miu.
Prada has tapped Intesa Sanpaolo, UniCredit, Credit Agricole’s CLSA and Goldman Sachs Group as joint coordinators and book runners for the share sale, according to Dow Jones. An unnamed source told Dow Jones the IPO could occur as early as July.