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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	3/7/2011 7:24:09 AM
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Prada Shuns Milan for Hong Kong as IPO Signals Economic Shift By Elisa Martinuzzi - Mar 6, 2011 Prada SpA, the fashion house known for its Miu Miu bags and Church’s shoes, is planning the largest initial public offering of a family-owned Italian company since 2006. Investors in Prada’s hometown of Milan will have to reach about 5,800 miles away to buy the stock. Prada is shunning the Italian exchange for a $2 billion IPO on the Hong Kong exchange because it’s closer to the retailer’s fastest-growing region. The decision was made to “seize the best opportunities offered by the international capital markets,” Chief Executive Officer Patrizio Bertelli said in a statement when it announced the IPO. bloomberg.com

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