Davis Polk advised Prada S.p.A. in connection with its HK$16.7 billion (US$2.15 billion) initial public offering of ordinary shares. The global offering consisted of a public offering in Hong Kong and an international offering in reliance on Rule 144A and Regulation S. The global offering consisted of both primary and secondary shares, which are listed on the Hong Kong Stock Exchange under the stock code of “1913.”
Banca IMI S.p.A., CLSA Limited, Goldman Sachs (Asia) L.L.C. and UniCredit Bank AG, Milan Branch acted as joint bookrunners for the global offering.
Founded in 1913, Prada is one of the world’s most prestigious fashion and luxury goods groups. The Prada Group designs, manufactures, promotes and sells high-end leather goods, ready-to-wear and footwear through the Prada, Miu Miu, Church’s and Car Shoe brands. Prada distributes its products through retail and wholesale channels. As at January 31, 2011, Prada operated 319 directly-operated stores in its retail channel and had 1,400 wholesale clients.
The Davis Polk corporate team included partner James C. Lin, associates Jeremy C.R. Entwisle, Amanda Lau and R. Andrew Dickson III and summer associate Josephine H.Y. Lau. Partner John D. Paton and associate Alon Gurfinkel provided tax advice. Associate Catherine L. Martin provided 1940 Act advice. Jenny Zeng was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.
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