27 Jan '11, 2pm

#Prada plans to open 90 stores, makes decision about IPO - (via @BloombergNow) (via @cmswire)

MILAN - ITALIAN fashion group luxury Prada announced on Thursday it will make its first public listing on the Hong Kong bourse, a sign of Asia's growing appetite for designer goods. 'The Prada board, which met today, has decided to launch the process of listing the company on the Hong Kong bourse,' the group said in a statement without mentioning a date. The Italian press said the Hong Kong listing could take place in June or July. The group has been keen to get publicly listed for several years, but had previously held back due to the inclement market conditions. Last October the fashion powerhouse announced that it had re-opened the dossier and was looking particularly at Hong Kong on top of other possibilities such as Milan or London. China is the world's fastest-growing market for luxury goods. -- AFP

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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