According to statements by CEO Andrea Guerra, Prada is opting for a dual listing, following the example of Ferretti and Coty. The CEO took the opportunity to rule out the possibility of mergers and acquisitions in the next three to five years.
Prada is seriously considering a dual listing on the Milan Stock Exchange, although this is not its priority, the brand’s CEO Andrea Guerra said on Monday.
Last September, Prada’s former co-CEO Patrizio Bertelli said that “no decision” had “been taken” regarding a secondary listing in Milan.
Already listed on the Hong Kong Stock Exchange, the Italian luxury group is reportedly considering raising at least $1 billion through a secondary listing in Milan, and is working with Goldman Sachs on the initial preparations.
A dual listing in Europe would enable Prada to broaden its investor base, as some funds can only invest in European or US equities.
Andrea Guerra added that Prada would not need any M&A operations over the next three to five years, but would continue its organic growth, “to have the role that is ours”.
A series of double listings
After the Ferretti Group’s dual listing in Milan this year, following its initial IPO in Hong Kong in 2022, attention has since turned to Prada. A dual listing for the brand would be a crucial development.
The preconceived notion that Asia was the ideal place for European consumer brands to list due to the expected future growth is now widely questioned. Indeed, according to some experts, this wasn’t even the original reason for Prada’s listing in Hong Kong in 2011.
There have been several attempts to float Prada on the stock market considering various options and locations, most of which were unsuccessful, mainly due to the differences in the group’s structure and debt at that time compared to its current state.
Important decision
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also>PRADA (RE)LAUNCHES INTO BEAUTY WITH A FIRST LINE OF MAKEUP AND CARE
Featured photo : ©Prada
