Banca Intesa sell 3% of Prada for a record 360 million euros

Italian banking group Intesa San Paolo, one of Prada’s creditors which owned 4% of the company, sold 3% of its stake on Friday, the same day of Prada’s IPO launch on the Hong Kong Stock Exchange. The value of the transation: 360 million euros. Following the transaction, the banking group retains 1% of Prada.

The successful IPO of Italian luxury company PRADA on Friday on the Hong Kong stock exchange defied all possible negative previsions, a stake of 16.5 % being listed. The company valuation reached the expected 2,15 US$ billion.