Prada has began the bookbuilding for its Hong Kong listing as luxury brands seek to take advantage of interest among Chinese investors in the sector.
The Italian fashion house has set an indicative price for each share of HK$36.50-HK$48 ($4.7-$6.2), according to a report from Dow Jones, citing a person familiar with the situation.
At this price range, Prada would bring in somewhere between $2 bn-$2.6 bn.
The IPO is planned to launch on June 14, the source says.
Samsonite is also planning to list in Hong Kong in June, in what will be a big month for luxury brands on the Chinese exchange.
The US luggage maker announced its pricing last week and hopes to raise up to $1.5 bn.
Interest in a Hong Kong listing by luxury brands has been strong since French cosmetics group L’Occitane raised $707 mn in an IPO in the city last year.
L’Occitane’s Hong Kong share offering was oversubscribed by approximately 158 times, according to a statement from the company at the time.
The listings by upmarket retailers reflect the strong demand for luxury goods in China, driven by the country’s burgeoning middle class.
