Prada IPO May Raise Up to $2.6 Billion to Fund Expansion

Prada SpA’s initial public offering in Hong Kong may raise as much as HK$20.3 billion ($2.6 billion) to fund the opening of more stores by the Italian maker of Miu Miu bags.

The Milan-based luxury-goods company and Intesa Sanpaolo SpA are selling 423.3 million shares for HK$36.50 to HK$48 each, according to the IPO prospectus distributed to reporters in Hong Kong yesterday. Selling shares at the top of the range may give the company a market value of as much as HK$122.8 billion, according to the document and data compiled by Bloomberg.