Prada Is Officially Going Public

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Photo: Christophe Simon/AFP/Getty Images

Following its record-breaking year in sales, Prada got the go-ahead for its listing on the Hong Kong Stock Exchange, which is expected to take place on June 23 or 24. Prada will reportedly sell a 20 percent stake in the company, which includes the eponymous brand as well as Miu Miu and Church's; Prada is currently 95 percent owned by Miuccia Prada and her family members. Company officials will kick off a premarketing campaign on June 6, and are expected to raise up to $2 billion before the initial public offering.

Prada Gets Hong Kong IPO Approval [WSJ]
Earlier: Prada Will Probably Go Public by July
Related: Prada's Net Profits for 2010 Up a Record 150 Percent