Prada IPO

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.
<div style="text-align:left;">
Miuccia Prada greets investors following a Prada fashion show in Hong Kong earlier this month (Getty Images) </div>
<div style="text-align:left;"> Miuccia Prada greets investors following a Prada fashion show in Hong Kong earlier this month (Getty Images) </div>

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.

Even so, the deal failed to live up to its own hype, particularly with regard to retail interest, and the final deal size is half a billion dollars below the $2.6 billion that the...

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