Prada Group has chosen its Italian banking sponsor for its spring IPO on the bourse, Banca Commerciale Italiana (Comit), as well as its international sponsor, Credit Suisse First Boston (CSFB).

The CSFB choice, according to a Prada spokesperson, has not yet been officially appointed however.

The company is expected to be valued between $6bn and $7bn, on sales estimates this year of $1.68bn. Prada plans to float approximately thirty per cent of the company to expand its retail network.

Some have speculated that Prada CEO Patrizio Bertelli, with all the acquisitions made in such a short timeframe, may need the stock market money to finance his debts.