Prada Group Seen Nearing Dual Listing
Co-CEO Patrizio Bertelli had hinted at the possibility to explore a second listing last year, but reports now suggest the company is getting into action.
MILAN — Prada’s already shared plans to explore a second listing in Europe are reportedly getting into action.
The luxury brand’s co-chief executive officer Patrizio Bertelli had hinted at the potential move during Prada’s Capital Market Day last year, as reported by WWD.
“We are satisfied with Hong Kong, it was the right choice,” Bertelli said at the time, admitting, however, that “we could explore a listing in Europe. That said, we don’t feel the need to now, we are OK this way.”
According to a Bloomberg report published Friday, the company, which has been publicly listed on the Hong Kong Stock Exchange since 2011, is moving swiftly to turn those vague plans into action and seeking $1 billion from a second listing in Milan, likely taking place in 2023.
Contacted Friday by WWD, Prada had no comment.