Prada seeks $1 billion valuation in Milan listing – Bloomberg News

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The offering would likely take place next year with the company looking to raise funds by selling new shares in Milan, the report said, citing people familiar with the matter.

A dual listing in Europe would help the Hong Kong-listed luxury group widen its investor base as some funds can only put money into European or U.S. stocks.

Prada’s Chairman Paolo Zannoni said last month a secondary listing in Milan is a possibility but not a priority for Prada, adding that no decision had been taken on the issue.

Co-Chief Executive Officer Miuccia Prada and her husband, Italian businessman Patrizio Bertelli, are unlikely to cut their stake in any deal, the report said. They have an 80% stake in the company.

The report added that Prada and its advisers are working through the complexities of attempting the first Hong Kong-Milan dual listing and no final decisions on timing or size have been taken.

Prada and Goldman Sachs did not immediately respond to requests for comment from Reuters.