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Report: Prada CEO Says No Decision Yet on Dual Listing in Milan

Prada store, Hong Kong.
“No decision has been taken” on a secondary listing in Milan, Bertelli said in an interview with Italian daily newspaper Il Corriere della Sera. (Shutterstock)
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Hong Kong-listed Italian luxury group Prada SpA has not decided whether to list in Milan as well, chief executive Patrizio Bertelli was quoted as saying on Thursday.

A dual listing in Europe would help Prada widen its investor base, as some investment funds can only put money in European or US stocks.

“No decision has been taken” on a secondary listing in Milan, Bertelli said in an interview with Italian daily newspaper Il Corriere della Sera.

Last month Bloomberg News reported that Prada was considering seeking at least $1 billion from a secondary listing in Milan and was working with Goldman Sachs on early preparations.

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Italian daily newspaper Il Sole 24 Ore reported on Tuesday that Prada aimed to list in Milan stock exchange next year.

The luxury group’s chairman Paolo Zannoni said in July a secondary listing in Milan was a possibility, but not a priority for Prada.

By Gianluca Semeraro; Editors: Maria Pia Quaglia and Alexander Smith

Learn more:

Prada Is Seeking at Least $1 Billion in New Milan Listing

The Milanese brand is working with Goldman Sachs on preliminary preparations for a potential offering, sources told Bloomberg.

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