Prada, the Italian fashion house, has finally put some firm dates in the book for its eagerly anticipated Eu1.1bn IPO. Premarketing for the deal kicks off next Thursday (June 20) and will run until June 26. The company will then announce the price range on July 1 when the books are opened for the deal. Bookbuilding will continue until July 12, with pricing on July 15. The shares are expected to start trading on July 18.
The deal will be made up of a primary offering of new shares worth between Eu250m and Eu300m. In conjunction with this there will also be an offering of secondary shares; the size of this offering is as yet unspecified but it is expected to be in the region of Eu800m. The freefloat of the company following the offering is expected to be around 35%, after the greenshoe.
The deal will consist of a fully marketed institutional offering in the US and Europe with a private placement in Japan. There will also be a 25%-30% retail offering in Italy.
BNP Paribas, Deutsche Bank and IntesaBci have been appointed as joint global co-ordinators for the offering with Credit Suisse First Boston and Centrobanca joint leads. Banca IMI, Crédit Agricole Indosuez Lazard, HSBC, Nomura and Unicredito have been appointed as joint managers.