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Grim market conditions have forced Italy's Prada Holding NV to say Wednesday, June 26, that it was suspending plans for a July initial public offering.
This is the third time that the upscale Italian clothing, bag and shoe manufacturer has postponed its IPO. And Prada is putting its IPO plans on hold as British fashion house Burberry plc goes ahead with its IPO.
Prada had intended to offer a 35% stake in the company. But as markets swooned Wednesday, the Italian luxury goods maker said that the decision to pull back had been made in...