Italian luxury group Prada is reportedly considering a second listing in Milan in order to raise at least $1 billion. The company is said to be collaborating with Goldman Sachs on the early preparations for the listing, which is expected to take place next year. The objective is to sell new shares in Milan to generate funds. By having a dual listing in Europe, Prada would be able to expand its investor base, as some funds can only invest in European or US stocks.
While Prada’s Chairman, Paolo Zannoni, had previously mentioned that a secondary listing in Milan is a possibility, he clarified that it is not a priority and no decision has been made yet. It is believed that the Co-Chief Executive Officer, Miuccia Prada, and her husband, Patrizio Bertelli, who currently hold an 80% stake in the company, are unlikely to reduce their stake in any potential deal.
At present, Prada and its advisers are navigating the complexities of a Hong Kong-Milan dual listing, and no final decisions have been made regarding the timing or size of the listing. No comments have been provided by Prada or Goldman Sachs regarding this matter.
Useful links:
1. Prada Official Website
2. Goldman Sachs Official Website
