HK Stock Market Move | PRADA (01913) rose more than 3% in early trading, reportedly close to acquiring Versace for nearly 1.5 billion euros. Currently, negotiations between the two sides are progressing smoothly.

PRADA (01913) rose more than 3% in early trading, reaching a 3.63% increase by the time of publication, at 68.6 Hong Kong dollars, with a trading volume of 67.10 million Hong Kong dollars. On the news front, according to market reports on March 3, PRADA is close to reaching a deal to acquire Versace under the high-end fashion group Capri Holdings, with a price of nearly 1.5 billion euros. The report stated that the two companies may finalize the deal in March, with negotiations progressing smoothly and preliminary due diligence showing no risks. Earlier reports indicated that PRADA is evaluating the possibility of acquiring the Italian luxury fashion brand Valentino and is working with advisors to consider potential transactions, with Citi providing advice to PRADA. The reports noted that since mid-December last year, there have been increasing rumors that Capri is preparing to sell Valentino and Jimmy Choo, and has commissioned Barclays to study potential sales.