Famous for its stylish handbags, smart couture and long leather boots Prada is one of Italy’s biggest luxury brands. And it’s reportedly generated five times demand for its initial public offering taking place in Hong Kong later this month.
The New Case Against Hillary!
According to the mainstream media, we should all have voted for “crooked” Hillary.
But if she was the president, you would never have this chance to turn a small stake of $100 into a small fortune.
Sure, Trump is not perfect.
But even if you didn’t vote for him…
Once you see this video, you might like him a little more.
Peter Thal Larson is from Reuters BreakingViews.
“I think we have our doubts about the valuation but it seems like there is a lot of demand for this IPO in Hong Kong, so it seems that they’re going to quite happily raise what they need, the $2.6 billion is the top end of the range.”
Prada shares will be priced at between $4.69 and $6.17. That values the company at between $11.5 and $14.5 half billion dollars.
“You know it all comes down to the key man or in this case key woman risk. You know the husband and wife team running the company who have been responsible for its success but you know if something were to go wrong there then there’s a lot of vulnerability on the valuation.”
Prada’s brand has been growing in popularity in Asia along with China’s middle classes. Analysts estimate China will account for 20% of the global luxury market by 2015.
When shares in Prada begin trading on June 24 it will be the first Italian company to trade on the Hong Kong stock exchange.
Bottom line: Italian fashion house Prada, which is seeking to raise up to $2.6 billion through a Hong Kong IPO, has generated five times demand for its offer, a source familiar with the matter told Reuters on Sunday.