AFP
Jun 28, 2010
Prada seeks four billion euro valuation for IPO: report
AFP
Jun 28, 2010
© 2010 AFP - Fashion group Prada, which has been mulling a stock exchange listing for years, is seeking a valuation of more than four billion euros (five billion dollars), an Italian daily reported on Monday.
 Prada - SS 2010 |
Current valuations for the company are ranging "between three and four billion euros" daily Corriere della Sera said, citing bank sources, adding that the company "is aiming at exceeding four billion."
The company, founded as a leather-goods shop in 1913, has put off the decision to launch an initial public offering several times in the past decade, most recently because of poor market conditions.
Earlier this month, the Italian press reported that Prada was considering listing its shares on the Milan and Hong Kong stock exchanges.
The Prada family controls 95 percent of the high-end fashion group, which also owns the Miu Miu and Church's brands.
Italian bank Intesa Sanpaolo owns the remaining five percent.
The group's revenues totalled 1.56 billion euros last year.MILAN, June 28, 2010 (AFP)
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