Prada has secured regulatory approval to launch a Hong Kong initial public offering (IPO), The Wall Street Journal reports. The Italian fashion house is seeking to raise around $2 billion from the offering.
The Milan-based company, which is planning to sell a 20% stake in the family-run firm, postponed its plans to list in 2008, adds Bloomberg. Goldman Sachs, Intesa Sanpaolo unit, Banca IMI, Unicredit and Credit Agricole are managing Prada’s offering.
Click here for the story from The Wall Street Journal.