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Prada CEO says no decision yet on dual listing in Milan -report
Global Banking & Finance Review®
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MILAN (Reuters) – Hong Kong-listed Italian luxury group Prada SpA has not decided whether to list in Milan as well, Chief Executive Patrizio Bertelli was quoted as saying on Thursday.
MILAN (Reuters) – Hong Kong-listed Italian luxury group Prada SpA has not decided whether to list in Milan as well, Chief Executive Patrizio Bertelli was quoted as saying on Thursday.
A dual listing in Europe would help Prada widen its investor base, as some investment funds can only put money in European or U.S. stocks.
“No decision has been taken” on a secondary listing in Milan, Bertelli said in an interview with Italian daily newspaper Il Corriere della Sera.
Last month Bloomberg News reported that Prada was considering seeking at least $1 billion from a secondary listing in Milan and was working with Goldman Sachs on early preparations.
Italian daily newspaper Il Sole 24 Ore reported on Tuesday that Prada aimed to list in Milan stock exchange next year.
The luxury group’s Chairman Paolo Zannoni said in July a secondary listing in Milan was a possibility, but not a priority for Prada.
(Reporting by Gianluca Semeraro; editing by Maria Pia Quaglia and Alexander Smith)
A dual listing occurs when a company is listed on more than one stock exchange, allowing it to access a broader range of investors and increase its market visibility.
An investor base refers to the group of individuals or institutions that invest in a company's shares or securities, influencing the company's market performance and capital.
A stock exchange is a marketplace where stocks, bonds, and other securities are bought and sold, providing a platform for companies to raise capital and for investors to trade.
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