Samsonite Slumps as Dual Listing Plan Dents Buyout Speculation
- Shares tumble as Hong Kong-listed firm seeks second listing
- Luggage maker has fielded interest from global buyout firms
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Samsonite International SA’s shares fell the most in two years as the luggage maker’s plans to pursue a second listing hurts hopes for a takeover from global buyout firms.
Shares dropped as much as 12% in Hong Kong on Friday, the most since March 2022, and were 9% lower at the midday break. The company didn’t specify which exchange it was looking at for another listing, but said in a statement the move would increase liquidity of its shares and help the firm reach global investors. The pursuit of a dual listing is at an early stage, Chairman Timothy Charles Parker said in the statement.