Why Prada is a forerunner also in the dual listing race

Why Prada is a forerunner also in the dual listing race

Once again, Prada is a forerunner in a trend that promises to be transversal (as well as momentous). That’s right, because from the upper echelons of the brand led by Patrizio Bertelli (in the photo, Imagoeconomica) and Miuccia Prada, the intention to add the IPO in Piazza Affari to the Hong Kong listing has been leaked. Dual listing, they say in financial jargon. Well, not only is the indiscretion finding further confirmation (and the time horizon of 2023). But it seems that the number of made-in-Italy companies that, after listing on Asian lists, are considering listing on Western lists is growing.

Prada is a forerunner this time too

It is Il Sole 24 Ore that updates on the dual listing trend. Of that under consideration for Prada, it is known that the pool that follows the practice, Goldman Sachs would be joined by Citigroup. The objective, as we were saying, is to bring the title to Piazza Affari by 2023, adding the listing to the one that has seen the brand as a protagonist in Hong Kong since 2011. Who else is thinking of the double IPO? Ferretti Group, answers the financial newspaper. The yachting brand, a very interesting and prolific niche for leather by design, is controlled by the Chinese holding company Weichai. Ferretti last March completed its listing in Hong Kong. Six months on, it is also considering an IPO in Europe: the choice should fall on London or Milan.

A question of balance

The trend has started. Made-in-Italy companies that initially preferred listing on Asian stock exchanges are now rushing to list in Europe as well. Why? For a matter of balance, in short. The war has made stock markets very volatile. The economic and political conditions in China (and Asia in general) have changed a lot since the pandemic broke out. Companies, which are always looking for new investors on the stock market to support their industrial strategies, need to diversify their risk. And that is why they look for new resources in the West.

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