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Italian luxury fashion house Prada SpA is considering seeking at least $1 billion from a second listing in Milan and is working with Goldman Sachs Group Inc (NYSE: GS) on preliminary preparations, Bloomberg reported on Friday, citing people familiar with the matter.The offering would likely take place next year with the company looking to raise funds by selling new shares in Milan, the report said.
A dual listing in Europe would help the Hong Kong-listed luxury fashion group widen its investor base.
Last month, Prada's Chairman Paolo Zannoni said a secondary listing in Milan is a possibility but not a priority for the company, adding that no decision had been taken on the issue.
The report said that co-Chief Executive Officer Miuccia Prada and her husband, Italian businessman Patrizio Bertelli, who have an 80% stake in the company, are unlikely to cut their stake in any deal.
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.
Picture Credit: US News
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