HK-listed luggage group Samsonite rises as sale of Speck cheers

Samsonite SA

02/08/2021 08:57

** Shares of travel luggage maker Samsonite International SA
 1910.HK  rise as much as 9.4% to HK$15.80, the highest since
July 13, extending gains for the fourth straight session
    ** Stock last up 2.1%, on track for the best day since July
22 
    ** Samsonite says it has sold its slim protective cases
distributing unit Speculative Product Design LLC (Speck) to
Telementum Global LLC to Telementum Global LLC for $36 million
cash, focusing resources on growing its core luggage business (https://bit.ly/3lmdqYA)
    ** Says net proceeds will be used to repay a portion of its
outstanding borrowings under its revolving credit facility
    ** Speck designs and distributes slim protective cases for
personal electronic devices under the Speck® brand
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  rises 1.7%, and the benchmark Hang Seng Iindex  .HSI 
climbs 0.9%
    ** As of last close, the stock had gained 5.1% this year

 (Reporting by Donny Kwok, Editing by Louise Heavens)
 ((donny.kwok@thomsonreuters.com))