Prada to sell 423.3 mln shares in HK IPO to fund expansion-terms

mercoledì 1 giugno 2011 12:33

HONG KONG, June 1 (Reuters) - Italian fashion house Prada plans to sell 423.3 million shares in a Hong Kong initial public offering and plans to use most of the funds to expand and renovate its stores, according to a term sheet of the deal seen by Reuters on Wednesday.

The IPO, valued at around $2 billion, is slated to be priced on June 17, with listing at the Hong Kong stock exchange set for June 24. (Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Lincoln Feast)