Biz News Flash

Prada gauges investor demand

(China Daily)
Updated: 2011-05-24 15:18

Prada SpA has started gauging investor demand for its Hong Kong initial public offering, according to a sales document.

The Milan-based company is selling a total of about 423 million shares, among which 14 percent are new shares and the rest are being sold by existing shareholders Prada Holding BV and Intesa Sanpaolo SpA, according to the document.

The IPO may raise about $2 billion, two people with knowledge of the transaction said last week.