Prada, the fashion house, has cancelled its initial public offering, potentially the biggest in Italy this year, for the third time in 12 months.

BNP Paribas, Deutsche Bank and IntesaBci were joint global co-ordinators and bookrunners of the IPO in which the fashion house was trying to raise between €1bn ($990m) and €1.5bn. Morgan Stanley advised the Prada family.

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Prada pulls IPO for third time in a year

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