HK-listed Samsonite hits 3-week low on plan to pursue dual listing

Samsonite SA

22/03/2024 02:54

** Shares of luggage maker Samsonite International  1910.HK 
fall 12.1% to HK$27, their lowest since Feb 29
    ** Stock on course for biggest one-day pct drop since March
2022, if current trend holds 
    ** Samsonite says it plans to pursue a dual listing in
addition to its listing on the Hong Kong Stock Exchange to
increase the liquidity of its shares and reach investors in more
markets 
    ** Samsonite did not provide details of the exchanges it is
considering for the second listing but people familiar with the
situation say the U.S. would be the likely venue 
    ** The Hang Seng Commerce & Industry Index  .HSNC  drops
2.5%, the Hang Seng Consumption Index  .HSCGSI  falls 2.3% and
the Hang Seng Index  .HSI  declines 2.2%
    ** Stock up 9.9% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))