Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Prada seeks $1 billion valuation in Milan listing - Bloomberg News

Stock Markets Aug 12, 2022 08:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Prada products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly
 
GS
+3.23%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PRDSY
+0.21%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(Reuters) - Italian luxury group Prada (OTC:PRDSY) SpA is considering seeking at least $1 billion from a second listing in Milan and is working with Goldman Sachs Group Inc (NYSE:GS) on early preparations, Bloomberg News reported on Friday.

The offering would likely take place next year with the company looking to raise funds by selling new shares in Milan, the report said, citing people familiar with the matter.

A dual listing in Europe would help the Hong Kong-listed luxury group widen its investor base as some funds can only put money into European or U.S. stocks.

Prada's Chairman Paolo Zannoni said last month a secondary listing in Milan is a possibility but not a priority for Prada, adding that no decision had been taken on the issue.

Co-Chief Executive Officer Miuccia Prada and her husband, Italian businessman Patrizio Bertelli, are unlikely to cut their stake in any deal, the report said. They have an 80% stake in the company.

The report added that Prada and its advisers are working through the complexities of attempting the first Hong Kong-Milan dual listing and no final decisions on timing or size have been taken.

Prada and Goldman Sachs did not immediately respond to requests for comment from Reuters.

Prada seeks $1 billion valuation in Milan listing - Bloomberg News
 

Related Articles

2 Insider Sells, 1 Insider Buy of Interest Today
2 Insider Sells, 1 Insider Buy of Interest Today By Investing.com - Sep 28, 2022 1

Insider buying and selling activities are important for investors to pay attention to. While insiders sell for many reasons, including taxes, it doesn’t always send the right...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email