Sitoy Group Could Raise up to $127M in IPO

Sitoy Group Holding Ltd., which makes handbags and leather good for the Prada fashion house, could raise about $127 million in a Hong Kong I.P.O., Reuters reported. Milan-based Prada, which raised about $2.5 billion in a Hong Kong IPO in June, agreed to buy 19.6% of the Sitoy shares on offer, with venture capital firm IDG buying 22%, IFR reported last week.

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