For those who wrestle with various investment portfolio the word Initial Public Offering (IPO) could be as familiar as a Hermes Birkin Bag. Every once in a while, we too like to understand a financial jargon and switch our glossy fashion magazine with a copy of Financial Times. The later of course, a trick that I pick up from Shopaholic book just so that people thought that I’m following the finance latest news as well as fashion
If buying shares is one of your thing, how about owning a piece of Prada? The luxury brand Prada has said that it wants to list its shares on the Hong Kong Stock Exchange and the latest news indicated that the IPO would be as scheduled, which is July. They’ve filed documents with the Hong Kong exchange and aiming to list for 20 percent of its share, according to sources. Although spokesman from Prada is unwilling to comment on this detail. But the possibility of 20 percent of your favourite brand lying around the stock exchange floor begging you to grab it is just as luring as a new Prada bags.
As per Hong Kong listing authorities law, Prada must avoid any communication regarding this matter with media until all processes are completed. Hopefully in 60 more days we will know for sure whether July is really the day where you will not only get the chance to own a piece of Prada but also of its share. 60 days is the time frame between the deposit of the documents to the approval from the Hong Kong Exchange.
Currently other than the 95 percent stake owned by Miuccia Prada and her husband through the Amsterdam-based Prada Holding B.V, the other 5 percent of Prada is owned by Intesa.
So for those awaiting the good news, let’s see whether this news will be proven true after all.