Hong Kong’s Samsonite International plans to pursue dual listing

Luggage maker Samsonite International said on Friday that it planned to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and to reach investors in more markets.

Samsonite did not provide details of the stock exchanges being considered for the second listing, saying “pursuit of a dual listing is at an early stage.”

The company, which was founded in the U.S. in 1910 and also owns the American Tourister and Tumi luggage brands, said an additional listing would allow it to reach investors in markets that are an important part of its global footprint and growth drivers for its business.

Samsonite explored a take-private earlier this year from the Hong Kong Stock Exchange and has held discussions with advisers and investors, Reuters has reported.

The company said its board decided to focus on pursuing a dual listing after a preliminary review of its potential paths forward.

“The Asia market continues to be incredibly important for the group’s core brands, and the company looks forward to continuing to successfully grow its business there and in other regions around the world,” Samsonite said in its filing.

SOURCE: CNA (Channelnewsasia.com) RSS Latest News   (go to source)
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