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Prada CEO says he hasn’t made a decision yet on dual listing in Milan report

Prada CEO says he hasn’t made a decision yet on dual listing in Milan report

MILAN (Reuters) – It has not decided whether it will also be listed in Milan, according to Patrizio Bertelli, chief executive of the Hong Kong-listed Italian luxury group Prada.

A dual listing in Europe would help Prada expand its investor base, as some investment funds can only put money in European or American stocks.

“No decision has been made” about a secondary listing in Milan, Bertelli said in an interview with Italian daily Il Corriere della Sera.

Bloomberg News reported last month that Prada was considering acquiring at least $1 billion from a secondary roster in Milan and was working with Goldman Sachs (NYSE:) on early preparations.

Italian daily Il Sole 24 Ore reported on Tuesday that Prada is targeting a listing on the Milan Stock Exchange next year.

Luxury group chairman Paolo Zannini said in July that a secondary Milan listing was a possibility, but not a priority for Prada.

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