Prada plans of introduction on the stock exchange of Hong Kong to raise up to $2 billion (AP)

HONG KONG - Italian fashion house Prada SpA provides to increase to $ 2.6 billion in a list on the stock exchange of Hong Kong, according to a person familiar with the deal, joining other tributary foreign companies on China's rising fortunes.

Prada plans to sell some 423.3 million shares in the range from 36.50 to 48 Hong Kong dollars, according to the person, who spoke condition of anonymity because they were not allowed to comment officially.

If the shares are sold in the upper part of the indicative price range, Prada would raise HK 20.3 billion ($2.6 billion). The price will be finalized on June 17, and the shares will begin trading on June 24, the person said.

The company was founded in 1913 in Milan by Mario Prada and began the manufacture of leather, trunks and Crystal bags, but his modern designs have helped become a symbol of haute couture. He now holds trademarks Miu Miu, the Church and footwear of the car.

Private enterprise, with the President Miuccia Prada and Patrizio Bertelli CEO each 33.2% owner. Miuccia Prada brother Alberto Prada and sister Marina Prada each own 14.2%. Their issues is held by a holding company. The remaining 5.1% is owned by the Italian bank Intesa Sanpaolo.

Prada is the latest in a string of businesses which are public in Hong Kong, attracted by the rise of the economy of its neighbour mass of China is hitting the millionaires and billionaires at a rapid clip. Hong Kong is a Chinese territory but has its own currency and the legal system.

According to The Hurun Report, Chinese version of the Forbes rich list, the number of people with a value of at least 10 million Yuan ($1.5 million) increased by approximately 10% of 960 000 people by 2011.

Newly rich from China spend their money on a wide range of luxury products, including designer clothing, flashy cars, and expensive apartments. Chantiers naval and aircraft officials predict that rich Chinese will propel sales of superyachts and jets private, while Chinese collectors have helped to turn Hong Kong into the third largest auction Centre of the world.

In a prelisting document filed with the stock exchange of Hong Kong, said Prada is waiting for Asia region the most rapid growth of the industry of luxury and China for the growth of the market. Over the next five years, China will become the third largest market for sales of luxury in the world, according to market research.

China's strong economic growth, increased urbanization and increased spending by the wealthy will result in annual growth of sales 15 to 20 percent in the market of luxury now until 2014, the company forecast.

Prada plans to open 70 stores in Asia by 2014, with 30 of those in China. It will also open 30 that Miu Miu stores in Asia during the same time, adding to 25 currently.

"We believe further growth is possible by the continued growth of the Chinese economy, which allows to continue our penetration in Chinese cities," said the document.

Asia represents a third euros approximately of Prada $ 2 billion ($2.9 billion) in sales for the year ending January 31, second only in Europe, who had 42 percent.

Prada is a parade of fashion and presentation for investors Tuesday night in Hong Kong that she prepares for the initial public offering.

The company also seeks to develop in the Middle East, South America and Eastern Europe, according to the document from.

Prada had discussed going public in the past, but the move was delayed after the global financial crisis 2008 sent markets tumbling.

Swiss products trader Glencore and manufacturer of Samsonite suitcases were also listed in Hong Kong this year. Luxury coach handbag manufacturer provides a list in Hong Kong more later this year to raise awareness of its brand in Asia.

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Wishes had to raise agricultural aid offers after commencement of e. coli (AFP)

LUXEMBOURG (AFP) - the European Commission pledged Tuesday to put more money to help vegetable farmers reeling from an outbreak of bacteria, after the EU rejected a first offer of 150 million euros as insufficient.

Spain and the France said the figure presented by the executive body of the European Union is far from the losses suffered by producers including lettuce, tomatoes and cucumbers have been avoided by consumers frightened and prohibited by the Russia.

Commissioner of European agriculture Dacians agriculture the offer made at a meeting of e crisis. coli from farm to the Luxembourg Ministers and is out of the talks agreeing to write a cheque "essentially" bigger.

He indicated, it could come up with a new figure as early as Wednesday, but warned that it would be difficult to meet the demand for full compensation after he proposed to cover 30% of losses.

"I am ready to meet this level of 30 per cent, but I do not think that the budget will enable us to achieve 100% for all the goods and all producers," he said, stressing that the funds would come from EU's common budget.

Warning consumers lose confidence each day that the epidemic remains a mystery, agriculture has urged the German authorities to quickly find the real source of the epidemic that killed 24 people and whose epicenter is in Hamburg.

Spain, smoking after the German authorities wrongly accused his cucumbers of the outbreak, says the crisis is cost its producers of 225 million euros (330 million dollars) per week.

Spanish Agriculture Minister Rosa Aguilar said that several nations have signed a document calling for producers compensation of 90 to 100% of losses depending on the product.

"Spain is not the only one who will say no to 30 percent," she said.

"It would be very bad for nowhere, Spanish producers if we entered a war of numbers, which is going to get us" she said, adding that Madrid wants that all funds to be released immediately.

French equivalent Bruno Le Maire had seen the commission provides "just a starting point.".

French producers "are not responsible for what happens and take a direct strike, in the crisis" said. "They have a right of indemnity to the last euro."

The Group of European farmers, COPA-COGECA, says crisis is costing the sector 417 million euros per week.

The authorities have not yet identified the source of the epidemic, which has left more than 2,300 people sick in at least 14 countries. German consumers are advised to avoid lettuce, cucumbers, tomatoes and raw sprouts.

"I hope that the authorities will be able to give an answer on the source of the infection as quickly as possible," said agriculture.

"Without this response, it will be difficult to regain the confidence of consumers, which is essential for the market to regain its strength," said the Commissioner.

Hopes that the source of contamination was finally localized suffered a setback Monday when the initial probes carried out on a farm to grow a variety of organic seeds in the North of the State of Lower Saxony has proved negative.

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