http://www.bloomberg.com/news/2011-06-16/prada-said-to-price-shares-at-hk39-50-in-h-k-.html

Prada Said to Raise HK$16.7 Billion in IPO

By Elisa Martinuzzi and Fox Hu - Jun 17, 2011 8:49 AM GMT+0800

Prada SpA raised HK$16.7 billion ($2.14 billion) in its initial public offering, following Samsonite International SA as the second foreign issuer in a week to scale back its Hong Kong fundraising plans.

The Milan-based luxury goods retailer priced 423.3 million shares at HK$39.50 each, below the middle of the marketed range, according to two people familiar with the matter. The sale values Prada at about 9 billion euro ($12.8 billion), or 23 times 2011 earnings, said one of the people, who asked not to be identified because the details aren’t public.

Prada had sought to sell the shares at HK$36.50 to HK$48, according to the IPO prospectus. The company yesterday narrowed the range to HK$39.50 to HK$42.25 after getting orders for just half of the stock offered to retail investors, two people with knowledge of the matter said.

http://www.bloomberg.com/news/2011-06-16/prada-said-to-price-shares-at-hk39-50-in-h-k-.html

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