Prada to float on Hong Kong market
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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.
