Luxury Luggage Brand Samsonite Sprint Hongkong Listing

Samsonite sprint Hongkong listing

May 30th

According to the plan, Samsonite will offer public offerings in from June 3rd to 9th, and will be listed in June 16th. Goldman will be the sole sponsor of its global placement. The joint global coordinators include HSBC, Morgan Stanley, and joint account managers, including UBS (Hongkong) and Royal Bank of Scotland (Hongkong).

Basic investor information was not released in the initial prospectus.

Ken Chan, a fund manager of Huaan asset management (Hongkong) Limited, told our reporter that Samsonite's placement is highly concerned in the market, so there may not be a basic investor.

Affected by the financial crisis, in 2008, Samsonite lost about $1 million 420 thousand, and in September 2009, the company carried out a large-scale restructuring.

According to the initial prospectus, 85% of the proceeds from the international placement (at HK $15.5 in the issue price of HK $1 billion 380 million) will be used to repay existing liabilities, and the remaining 15% will be used for general purpose of liquidity and company operation.

Statistics show that Samsonite's global business is divided into four regions: Asia, Europe, North America and Latin America.

In 2010, the Asian market, including China, India, the Middle East and Australia, contributed $405 million to its annual net sales, accounting for 33.3%.

Samsonite hopes that the future Asian market will become an important driving force for the sales of high-end products. With the increasing consumption of middle class tourism, the profitability of the Asian market will further improve.

The recent international market worries about inflation in China do not seem to affect Samsonite's prediction of China's luxury market.

According to the preliminary prospectus, Samsonite announced that it would focus on developing the Asian market as one of its development strategies, especially in the Chinese and India markets, mainly through the form of market investment and expansion of distribution networks.

With the rising consumption of luxury goods in China, Hongkong has recently become a "holy place" for the public listing of luxury goods in the world.

Following the successful listing of L'OCCITANE, a French cosmetics manufacturer last year, this year, Milan station, which specializes in second-hand luxury goods, has been listed successfully in Hongkong.

In June 24th, Italy fashion brand Prada will also be listed in Hongkong, and soon to join the Hongkong public offering army include Coach, British shoe maker Jimmy Choo, and Italy shoe brand Salvatore Ferragamo.