Pursuits
Prada Plans Hong Kong IPO as China Wealth Spurs Demand
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Prada SpA, the Italian fashion house known for its triangular logo, said it will start the process for selling shares in an initial public offering in Hong Kong, as rising incomes in China spur demand for luxury goods.
Prada’s board approved the appointment of Intesa Sanpaolo SpA, UniCredit SpA, Credit Agricole SA’s CLSA and Goldman Sachs Group Inc. as joint coordinators and book runners for a sale of shares to financial institutions, it said in a statement yesterday. Prada would be the first Italian company to list in Hong Kong, according to data compiled by Bloomberg.