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financial

Ferragamo Names IPO Banks

Ferragamo SpA has named the banks for the company's planned listing on the Milan Stock Exchange this year.

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MILAN — Ferragamo SpA has named the banks for the company's planned listing on the Milan Stock Exchange this year.

J.P. Morgan Chase & Co. and Italy's Mediobanca SpA will act as global coordinators and UBS as joint book-runner on the deal, a Ferragamo spokesperson said Tuesday following the luxury group's fall show.

Ferragamo chief executive Michele Norsa told WWD last week the Florence-based company was going ahead with preparations for the listing this year — although any decision will likely depend on market conditions. Up to 30 percent of the group is expected to go public.

Competitor Prada SpA plans to float in either June or November, pending the outcome of consultations with advisers and due diligence work, a company spokesman said Sunday. He added no decision would be made until at least March, when Prada reports 2007 earnings.

Prada has hired as its banks Italy's Intesa Sanpaolo SpA and UniCredit Group and Goldman Sachs & Co.
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