Prada Falls Short of Projected IPO, Yet Still a Huge Success

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Posted on June 30, 2011 at 6:06 PM


Slaughter and May have headed Prada’s official $2.1 billion HKSE listing.  David Polk & Wardell and Italian firm Bonelli Erede Pappalardo have also played a big role in this IPO.  Prada, following recent international trends, on June 24th became the first Italian company to list on the HKSE.  Hong Kong partners Laurence Rudge and Benita Yu lead the Slaughter team.  The Bonelli team is led by Milan partners Sergio Erede, Carlo Montagna, and Stefano Simontacchi, and is acting as Italian counsel to the company.  Davis Polk, led by HK partners James Lin and John Paton, is also advising Prada as the US counsel.  Clifford Chance is advising the underwriters, Goldman Sachs, CSLA, and the Asian brokerage unit of Calyon, in this transaction.  Partners Virginia Lee, Filippo Emanuele and Alberta Figari are leading the Clifford Chance team.  Despite the fact that Prada did not meet their revised projection of $2.3 billion in this IPO, it is still a huge success for the Italian company and represents a general shift in the market towards Asia.

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