June IPO for Prada
30/04/2001
Prada’s ambitions to create a public luxury goods group to rival leaders LVMH and Gucci advanced a stage further last week, when the company announced a June IPO (Initial Public Offering) for its shares.
Several analysts have questioned the timing of flotation, however, saying the Italian luxury goods house would have been better off waiting until the current uncertainty surrounding the world economy had lifted.
Prada is reportedly looking to offer around 30% of its stock, worth around 2bn euros. The cash will go towards paying off the company’s debt of L1.2 trillion ($ 5 542 700), accumulated by a string of recent acquisitions that included the British shoemaker Church & Co.
Share this story:
