Tags: Prada | Said | Get | Orders | All | stock | IPO

Prada Said to Get Orders for All Stock in IPO on First Day

Monday, 06 June 2011 01:42 PM EDT

Prada SpA received bids for all the shares on sale to money managers in its initial public offering on the first day of order taking, according to three people with direct knowledge of the transaction.

Prada today began taking orders from institutional investors, for whom as much as 90 percent of the Italian company’s share offering has been reserved, according to two of the people, who declined to be identified because the information is private. The company will offer stock to individual investors in Hong Kong next week. The IPO is expected to raise as much as $2.6 billion.

The Milan-based company set a price range of HK$36.50 ($4.69) to HK$48 per share, according to a sales document for the IPO obtained by Bloomberg News. About 16.5 percent of the company will be publicly traded after the IPO, according to the terms. The stock is scheduled to start trading on June 24, according to the term sheet.

A spokesman for Prada in Milan declined to comment.

Intesa Sanpaolo SpA, Credit Agricole SA’s CLSA Asia-Pacific Markets unit, Goldman Sachs Group Inc. and UniCredit SpA are managing the IPO, along with Mizuho Financial Group Inc. and Industrial & Commercial Bank of China Ltd.

© Copyright 2025 Bloomberg News. All rights reserved.


FinanceNews
Prada SpA received bids for all the shares on sale to money managers in its initial public offering on the first day of order taking, according to three people with direct knowledge of the transaction. Prada today began taking orders from institutional investors, for whom...
Prada,Said,Get,Orders,All,stock,IPO,First,Day
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2011-42-06
Monday, 06 June 2011 01:42 PM
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