By  on June 19, 2011

HONG KONG — Prada SpA has priced its initial public offeringon the lower end of its freshly narrowed price guidance and will raise$2.14 billion from the deal, according to sources familiar with thesituation.

The Italian fashion house has priced its shares at39.50 Hong Kong dollars, or $5.06 a share, sources said Friday. Facing atepid reception for retail shares and slumping stock markets worldwide,Prada’s IPO price comes in on the bottom of the most recent priceguidance of 39.50 Hong Kong dollars to 42.25 Hong Kong dollars, or $5.06to $5.42 a share.

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