Prada Said to Win Approval for $2 Billion Initial Offer

Prada SpA, the Italian producer of Miu Miu bags and Church’s shoes, won approval from Hong Kong’s stock exchange for a $2 billion initial public offering, two people with knowledge of the matter said.

The Milan-based company set June 24 as a tentative listing date, said the people, who declined to be identified because the information is private. Intesa Sanpaolo SpA’s Banca IMI SpA, Credit Agricole SA’s CLSA Asia-Pacific Markets, Goldman Sachs Group Inc. and UniCredit SpA are managing the IPO.