Prada’s high-priced HK IPO to raise $2.6bn June 6, 2011 Italian fashion house Prada could raise up to $2.6bn (£1.6bn) in an initial public offering in Hong Kong, setting a valuation for the company significantly higher than its European peers. Prada set an indicative price range of HK$36.5 to HK$48 a share for the IPO as it started meetings with Asian investors to gauge appetite [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2011 FINANCIAL TIMES WALL STREET “MISPRICED” LINKEDIN’S IPO A prominent Facebook investor and director accused Wall Street of undervaluing the LinkedIn initial public offering earlier this month, contributing to the doubling of its shares on opening day. Peter Thiel, an early Facebook investor and co-founder of PayPal, said banks did not understand the full potential of [...]
LMVH sparkles with €3.7bn Bulgari purchase March 7, 2011 France’s LVMH will take over Bulgari in a deal which values the Italian jeweller at €3.7bn (£3.18bn) and gives the No.1 luxury group more clout in the sector and bigger exposure to emerging markets. The offer, which priced Bulgari’s shares at a 60 per cent premium to its average level over the last month, could [...]
LMVH sparkles with €3.7bn Bulgari purchase March 7, 2011 France’s LVMH will take over Bulgari in a deal which values the Italian jeweller at €3.7bn (£3.18bn) and gives the No.1 luxury group more clout in the sector and bigger exposure to emerging markets. The offer, which priced Bulgari’s shares at a 60 per cent premium to its average level over the last month, could [...]
MEET THE ADVISERS May 5, 2011 ROTHSCHILD acted as CapCo’s financial adviser on the share placing, led by head of real estate Alex Midgen. Midgen recently advised Telereal on its acquisition of Trillium. He has also advised on several other capital raisings in real estate, including Grainger, Songbird Estates and Shaftesbury. In 2004 he advised Glenmorangie on its sale to LVMH. [...]
LVMH makes €2bn on stake in rival Hermes October 25, 2010 LVMH, the luxury goods giant, has made a paper profit of around €2bn (£1.8bn) after it revealed at the weekend it has built up a 17 per cent stake in rival Hermès International. Shares in Hermès, which makes silk scarves and Birkin handbags, rose as much as 17 per cent yesterday. The stock closed up [...]
LVMH beats forecasts as it sees brands rebound October 14, 2010 LVMH, the world’s biggest luxury retail group, beat forecasts with a 14 per cent rise in comparable third-quarter sales, driven by the solid recovery of its fashion, wines and champagne businesses. LVMH, the first major European luxury group to publish third-quarter figures, yesterday confirmed the industry’s stronger-than-expected rebound, powered in part by expansion in China [...]
LMVH sales up in luxury bounce back February 4, 2011 LVMH, the world’s biggest luxury group, posted forecast-beating fourth-quarter comparable sales boosted by strong Christmas trading, and proposed a higher dividend on the back of a record year. LVMH, whose Louis Vuitton brand accounts for half of group operating profit, said like-for-like revenue rose 13 per cent in the last quarter of 2010, beating analyst [...]
LMVH sales up in luxury bounce back February 4, 2011 LVMH, the world’s biggest luxury group, posted forecast-beating fourth-quarter comparable sales boosted by strong Christmas trading, and proposed a higher dividend on the back of a record year. LVMH, whose Louis Vuitton brand accounts for half of group operating profit, said like-for-like revenue rose 13 per cent in the last quarter of 2010, beating analyst [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 19, 2011 FINANCIAL TIMES MOVE TO QUASH HERMÈS’ POISON PILL Minority shareholders in Hermès have sought to quash the luxury goods group’s poison pill defences devised by its controlling family, potentially bolstering LVMH’s protracted takeover push for its smaller rival. CHINESE SET A NEW STANDARD IN BUYING GOLD China overtook India to become the largest market for [...]