Is he or isn’t he?

Will Prada finally be going public? When Patrizio Bertelli, the Italian luxury firm’s chief executive, said last weekend that he was considering an IPO, many analysts reacted with scepticism. Like the boy who cried wolf, Bertelli has hinted at an IPO four times in recent years, which renders this time that much less likely. In the past, each effort to take the company public was thwarted by unfavourable market conditions. The most recent suggestion of an IPO follows hot on the heels of Banca Intesa’s acquisition of 5 percent of Prada for £67.4 million. This values the company at £1.85 billion. Bertelli and his wife, creative director Miuccia Prada, said that an IPO next year could offer “the best opportunities to grow and develop the Prada group in the coming years.” Meanwhile, analysts believe Banca Intesa may be exerting pressure to take the company public, as that is the only way for it to profit from its investment. The Italian bank is also lending Prada £135 million through a fund with other banks. The company’s debt currently stands at below £471 million, although sales were up 10 percent to £896 million last year.

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