Prada to List on Hong Kong Stock Exchange


By William Stolerman

Prada is to list on the Hong Kong Stock Exchange as early as May in order to capitalise on the exploding luxury market in Asia. The decision is a first for the European luxury fashion industry.

It reflects a growing trend of international businesses looking to float themselves in Hong Kong, with Prada likely to be worth as much as €5bn - 6bn in a buoyant Hong Kong market. In contrast, a Prada listing in Milan - among the poorest performing markets in the past year - would have significantly less chance of achieving such a valuation.

The move follows that of L’Occitane who listed in Hong Kong last May as part of an Asian expansion strategy. The company raised $704 million and its shares have since soared in value.

It’s reported that as much as 30 per cent of the Prada group could be listed in Hong and it’s also possible that a listing could involve a cornerstone Asian investor.

The Prada group is majority owned by designer Miuccia Prada, her family and her chief executive husband, Patrizio Bertelli.

Via [ft]

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