Arab Today, arab today prada eyes asia growth with 3 bn hong kong ipo
Last Updated : GMT 02:14:22
Arab Today, arab today
Arab Today, arab today

Prada eyes Asia growth with $3 bn Hong Kong IPO

Arab Today, arab today

Arab Today, arab today Prada eyes Asia growth with $3 bn Hong Kong IPO

Hong Kong - AFP

Italian luxury fashion house Prada said on Sunday it was targeting stronger Asian growth as it aims to raise as much as US$3 billion from a highly anticipated share sale in Hong Kong this month. The family-owned fashion giant, known for its high-end leather handbags and footwear, is planning to sell 423.28 million shares at a price range of HK$36.50-HK$48.0 (US$4.70-6.20) each, with trading slated to start on June 24. The Milan-based firm has an option to sell an additional 63.49 million shares, or 15 percent of the offering, if the shares are oversubscribed which will enable it to raise up to $3.0 billion. The company will launch its public offering on Monday. \"I am confident we made the right decision,\" its chief executive Patrizio Bertelli told a news conference in Hong Kong via videolink from Milan, describing Asian fashion sense as \"far more contemporary\" and \"younger\". \"We will be the first luxury brand to go public on the Hong Kong stock exchange. In fact we will be the first Italian company to go public on the Hong Kong stock exchange,\" he said through an interpreter. Prada\'s confidence came as company executives said they were planning to open 80 new stores worldwide annually for the next three years, including 10 to 12 additional shops per year for its fast-growing Chinese market. Prada and its bankers said they were optimistic and expect investors to remain \"enthusiastic\" with the Hong Kong offering, despite a recent slump in world stock markets. The fashion house, which includes the Prada, Miu Miu, Church\'s and Car Shoe brands and is 95 percent owned by the Prada family and executives, is the latest high-end fashion brand to tap the huge Chinese market. Listings from high-end retailers such as US handbag maker Coach and luggage maker Samsonite are seen as a sign of Asia\'s growing appetite for designer goods, especially among cash-rich Chinese mainlanders. China is the world\'s fastest-growing market for luxury goods. It is forecast to be the world\'s top buyer of products such as cosmetics, handbags, watches, shoes and clothes by 2015, according to consultancy PriceWaterhouseCoopers. Prada plans to use proceeds from the Hong Kong IPO to expand its sales network, increase floor space, repay bank loans and supplement working capital. The fashion powerhouse currently has stores in more than 70 countries, with 319 shops in total about a third of them in Asia.

arabstoday
arabstoday

GMT 21:21 2017 Thursday ,19 October

Shaikh Nasser praises BIDEC 2017 royal patronage

GMT 20:39 2017 Thursday ,19 October

Tesla fired hundreds of employees in past week

GMT 13:46 2017 Thursday ,19 October

Samsung's revamped Bixby takes on Amazon Alexa

GMT 21:35 2017 Wednesday ,18 October

King congratulated by Premier on BIDEC success

GMT 21:27 2017 Wednesday ,18 October

Shaikh Nasser praises Derasat efforts

GMT 11:54 2017 Wednesday ,18 October

Airbnb rentals boom across Africa

GMT 18:06 2017 Tuesday ,17 October

Three companies offering to search for MH370

GMT 19:24 2017 Sunday ,15 October

Royal Jordanian eyes operating profit this year
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today prada eyes asia growth with 3 bn hong kong ipo Arab Today, arab today prada eyes asia growth with 3 bn hong kong ipo

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today prada eyes asia growth with 3 bn hong kong ipo Arab Today, arab today prada eyes asia growth with 3 bn hong kong ipo

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday