Prada Grapples With Hong Kong Slump as IPOs Drop on China

Prada SpA’s trading debut in Hong Kong just as the territory becomes one of this year’s worst-performing markets for initial public offerings may foreshadow a slowdown in IPOs by foreign companies.

After selling shares near the low end of the targeted range for its $2.1 billion IPO last week, the Italian maker of Miu Miu handbags may be poised to fall when it lists tomorrow, over-the-counter trading shows. A decline by Prada would add to losses of $873 million for investors in the 31 Hong Kong IPOs this year, according to data compiled by Bloomberg.