IDG and Prada have reached an agreement to acquire stakes of about a fifth each of the shares issued by handbag maker Sitoy in its forthcoming IPO, according to International Financing Review.
Technology, media and investment firm the International Data Group has agreed to acquire 22% of the shares issued by Hong Kong-based handbag maker the Sitoy Group in its initial public offering (IPO), according to news provider the International Financing Review (IFR), on Monday. Italy-based fashion house Prada is set to acquire 19.6%.
Official details of the transaction have not yet been released but IFR reported that Sitoy’s IPO will raise up to $130m on the Hong Kong market. Prada’s own…
