Samsonite shareholders approve US dual listing (updated)

Samsonite SA

19/03/2026 14:36

(Adds details from paragraph 3)

        *    Samsonite wants to broaden investor access via US
listing     

        *    Listing proceeds would be for operations, debt,
acquisitions     

        *    Company due to announce 2025 earnings on Friday     

  
    By Yantoultra Ngui and Sneha  Kumar
       SINGAPORE, March 19 (Reuters) - Samsonite  1910.HK 
shareholders approved a set of resolutions on Thursday designed
to pave the way for a U.S. dual listing, as the Hong Kong-listed
luggage maker seeks greater exposure to U.S. investors and
improved share liquidity.
The company, whose brands include Tumi and American Tourister,
last month said it was seeking a listing that it expected to be
via American depositary shares. 
    Based on a market capitalisation of about $2.95 billion as
of Thursday, the approved issuance mandate of up to 138.3
million shares, roughly 10% of issued share capital excluding
Treasury shares, implies a theoretical maximum deal size of
about $300 million at prevailing market value, although
Samsonite has not set a timetable, size or pricing for any U.S.
listing.
  
The timing and structure of any listing had yet to be determined
and would depend on market conditions, the company said in
February. 
    Shares of the company have dropped about 16% year to date,
LSEG data showed.
  
    Under proposed terms, any ADS-related share issuance would
be within previously approved dilution limits, while the price
could not be at a discount of more than 15% to the stock's close
immediately before the signing of the underwriting agreement.
    Proceeds from any share sale would be used for working
capital and broader corporate needs, including operating
expenses, capital spending, debt repayment, share repurchases
and possible acquisitions.
Samsonite first said in March 2024 that it would pursue a dual
listing after reviewing options to enhance shareholder value.
Its listing would add to momentum to U.S. capital markets, where
improving market conditions have encouraged companies such as
fast food firm Jollibee Foods  JFC.PS  and data centre operator
DayOne to pursue or prepare U.S. listings.
    Samsonite is due to report 2025 earnings on Friday.
     

(Reporting by Sneha Kumar in Bangalore and Yantoultra Ngui in
Singapore; Editing by Christopher Cushing, Louise Heavens and
Mark Porter)
((mailto:Yantoultra.Ngui@thomsonreuters.com;))