Friday, May 20, 2011

Prada secures HK listing committee nod for IPO -IFR

HONG KONG: Italian luxury goods company Prada received approval to list shares in Hong Kong, moving ahead with plans for an initial public offering worth about $2 billion, Thomson Reuters publication IFR said on Friday, May 20.

The Milan-based company, known for its colorful Miu Miu dresses, Prada handbags and men's shoes, received the go-ahead after meeting Thursday night with the Hong Kong Stock Exchange's listing committee.

The IPO would be the first for an Italian company in Hong Kong, which has attracted global luxury brands and consumer companies such as Samsonite, Coach and L'Occitane .

Prada will have a couple of weeks to pre-market the IPO and then another two weeks for the roadshow, with a listing expected by the third week of June, a source told Reuters on Tuesday. - Reuters

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