Deals wrap: Pricing Prada
Prada is pricing its initial public offering in Hong Kong to raise up to $2.6 billion and give the maker of luxury bags and Miu Miu dresses a value higher than its European peers, a source said.
With Europe’s market for new stock market listings in the doldrums, some bankers and investors say larger IPO discounts are the answer. Easier said than done, write Kylie MacLellan and Tommy Wilkes.
Daimler and Rolls-Royce have secured a 60 percent stake in engine maker Tognum with a sweetened takeover bid, expanding their presence in higher margin industrial diesel engines.
Singapore Airlines said it is open to any offers for its 49 percent stake in Virgin Atlantic, but would not comment if any bidders have approached the airline.