Prada reportedly seeking one billion dollar second listing

Prada is reportedly considering establishing a second listing at a valuation of one billion dollars as it looks to diversify its investor base outside of Hong Kong.

According to a report by Bloomberg, the luxury group is working with Goldman Sachs Group on preliminary preparations in regards to a potential offering, with a listing to likely take place next year.

The second listing would build on the 2.1 billion dollars raised in 2011 by the group when it listed a 20 percent stake in Hong Kong.

The publication’s unnamed sources said that the company is said to be looking into raising funds by selling new shares in Milan.

If carried out, it would likely be the first Hong Kong-Milan dual listing, which Prada and its advisers are reportedly working through, with no final decisions taken as of publication.

Representatives for both Prada and Goldman Sachs declined to comment, Bloomberg said.