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Prada looks east for listing

Prada looks east for listing
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Italian fashion house Prada is pressing ahead with plans for an initial public offering of share in Hong Kong – spurning its home bourse of Milan.

It is due to take place between June and July with between 15 percent and 20 percent of the group’s shares being offered.

Prada would be the first Italian company to be listed in Hong Kong.

It is making record sales helped by strong demand in Asia. Revenue increased by 31 percent last year to 2.05 billion euros.

This is a blow to Borsa Italiana. The Milan exchange, which a part of the London Stock Exchange Group, is struggling to get new listings as few Italian companies are going public.