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May 16, 2011
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BNP Paribas eyes HK listing in July, Prada in June

By
Reuters
Published
May 16, 2011

May 16 - BNP Paribas SA , France's biggest listed bank, is expected to seek to list in Hong Kong in July the earliest by way of introduction, without raising any capital, the Ming Pao Daily News reported on Monday, citing market sources.

Calvin Klein, Prada
Pedestrians pass by the Hong Kong Prada flagship store (Photo: Corbis)

BNP had submitted a listing application by way of introduction, which requires a shorter processing time, and ICBC International was handling the deal, Ming Pao said, citing sources close to the Hong Kong bourse.

BNP may try to raise brand awareness in greater China, while a relatively higher valuation in Hong Kong compared with Europe and the United States would facilitate the bank's future fundraising exercise, the paper said. It gave no other listing details.

Hong Kong has become a popular destination for international groups seeking to list as they strengthen their presence in China, including commodities trader Glencore International , and luxury goods makers such as Prada, Coach Inc and Jimmy Choo.

Italian fashion house Prada was likely to have its listing hearing in Hong Kong later this week and its initial public offering was expected to be launched on June 13, with a trading debut set for June 23, the Apple Daily reported on Monday, citing market sources.

(Reporting by Donny Kwok; Editing by Chris Lewis)

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