Prada Gets Hong Kong IPO Approval, Suggesting the Window for Fund Raising in the City has Reopened

http://www.advancedmarkettiming.com/

Prada

As reported by Wall Street Journal’s Prudence Ho:

Five companies, including Italian fashion house Prada SpA, are seeking more than $9 billion from Hong Kong investors in the next two weeks, according to people familiar with the situation, suggesting the window for fund raising in the city has reopened after a hiatus following the earthquake in Japan.

Prada received regulatory approval Thursday for its plan to launch a Hong Kong initial public offering that could raise up to $2 billion, a person familiar with the situation said Friday, joining U.S.luggage maker Samsonite Corp., which is seeking to raise $1 billion, to list on the Hong Kong stock exchange in June.

Meanwhile, Huaneng Renewables Corp., which started pre-marketing its relaunched IPO Thursday, plans to raise $988.2 million ahead of listing in Hong Kong on June 10, another person familiar with the situation said Friday.

Other companies seeking to tap funds in Hong Kong in the next few weeks include casino operator MGM China Holdings Ltd., which aims to raise up to $1.5 billion, and Australian mining firm Resourcehouse Ltd., which is raising up to $3.6 billion.

These deals are testing the market just days after Glencore International PLC successfully raised $10 billion in a London-Hong Kong listing in the world’s largest IPO this year.

Read More

Advertisements

One response to “Prada Gets Hong Kong IPO Approval, Suggesting the Window for Fund Raising in the City has Reopened

  1. The date for IPO is set to June 23-24. I think not only Prada IPO will be effective to cover the debt, but also good marketing technique to raise brand awareness in Asia.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s