Prada raises $2.1 billion from Hong Kong IPO

In response to a declining market, fashion retailer Prada sets the price in the bottom half of the range, but still at a premium to other luxury brands.

Prada raises $2.1 billion from Hong Kong IPO

Prada has raised HK$16.7 billion $2.1 billion from its Hong Kong initial public offering after pricing its shares in the bottom half of the range at HK$39.50 each early Friday morning.

This secured its position as Hong Kong’s largest listing so far this year, as well as the largest ever consumer product IPO in the Hong Kong market ahead of shoe maker and retailer Belle International’s $1.27 billion offering in 2005.

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