Hong Kong's Samsonite International plans to pursue dual listing (updated)

Samsonite SA

22/03/2024 24:57

(Recasts and adds details throughout)
       March 22 (Reuters) - Luggage maker Samsonite
International  1910.HK  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.

 (Reporting by Ayushman Ojha in Bangaluru and Kane Wu in Hong
Kong; Editing by Rashmi Aich and Jamie Freed)
 ((Ayushman.Ojha@thomsonreuters.com;))