×
68 872
Fashion Jobs
NORDSTROM
Asset Protection - Coordinator - Portland Distribution Center
Permanent · Portland
MACY'S
Asset Protection Detective, Carlsbad Plaza Camino Real - Full Time
Permanent · Carlsbad
MACY'S
Asset Protection Detective, Park Meadows - Standard Part Time
Permanent · Lone Tree
MACY'S
Asset Protection Detective, Woodbridge Center - Full Time
Permanent · Woodbridge Township
MACY'S
Asset Protection Detective, Fashion Valley - Full Time
Permanent · San Diego
MACY'S
Asset Protection Detective - Overnight, Herald Square - Flex
Permanent · New York
MACY'S
Asset Protection Detective, Mall of New Hampshire - Full Time
Permanent · Manchester
MACY'S
Asset Protection Security Guard, Bay Plaza - Full Time
Permanent · Bronx
TIFFANY & CO
Finance Analyst- Latam
Permanent · New York
OLD NAVY
Unassigned General Manager - Dallas West
Permanent · Denton
ASCENA
Loft Outlet - Five Oaks Part-Time Sales/Stock
Permanent · Sevierville
LULULEMON
Assistant Manager, Operations | San Marcos Premium Outlet
Permanent · San Marcos
LULULEMON
Assistant Manager, Operations | Scottsdale Quarter
Permanent · Scottsdale
LULULEMON
Assistant Manager, Operations | Broughton st (Savannah, ga)
Permanent · Savannah
GAP
General Manager - Topanga Plaza
Permanent · Los Angeles
ADIDAS
Senior Finance Analyst
Permanent · Portland
ADIDAS
Key Account Manager - Macy's
Permanent · New York
MACY'S
Asset Protection Detective, Bay Fair - Full Time
Permanent · San Leandro
MACY'S
Asset Protection Detective, North Point - Full Time
Permanent · Alpharetta
MACY'S
Asset Protection Detective, Santa Rosa Plaza - Full Time
Permanent · Santa Rosa
MACY'S
Asset Protection Detective, West Covina - Full Time
Permanent · West Covina
MACY'S
Asset Protection Captain, Sunrise - Full Time
Permanent · Citrus Heights
By
Reuters API
Published
Jul 28, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Prada weighs dual listing in Milan, but says not a priority

By
Reuters API
Published
Jul 28, 2022

A secondary listing in Milan is a possibility, but not a priority for Hong Kong-listed Italian luxury group Prada, its chairman said on Thursday, adding no decision had been taken on the issue.


Prada - Spring-Summer2023 - Menswear - Milan - © PixelFormula



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

"Investors have long asked for a double listing. It would be an important and very positive development," Luca Solca, luxury analyst at Bernstein, said.

Another analyst, who asked not to be named, said that when Prada had picked Hong Kong for its $2.1 billion IPO in 2011, the Asian stock exchange was seeking to lure overseas companies with attractive valuations.

But given its current market capitalisation of $14 billion, he said it was time for Prada to "play in the top league" with a Milan listing, especially when tensions with the Chinese government have weakened Hong Kong's status as a financial and luxury hub.

However a secondary listing would be a complex move.

There are no dual listings between Hong Kong and Milan and there are doubts about how one would work, for example concerning how shares would be exchanged between the two markets.

Adding to the complications, Patrizio Bertelli and his wife Miuccia Prada, who turned the Milanese company into a global luxury powerhouse, have repeatedly said they have no intention of selling down their 80% stake in the company. The remaining 20% is listed.

"A second listing in Milan has always been an option, but it is not a priority," Chairman Paolo Zannoni told analysts on a conference call after the group reported a 22% rise in first-half sales. "The visibility is still unclear."

 

© Thomson Reuters 2022 All rights reserved.