Samsonite is aiming to hold a listing hearing with the Hong Kong stock exchange in late May as part of its preparation for an initial public offering, Reuters reported. Before launching an IPO, all companies must meet the exchange to get a formal approval to go public. Luxembourg-based luggage maker Samsonite is owned by private equity firm CVC and the Royal Bank of Scotland. The company is expected to raise up to $1.5 billion in the offering.
(Reuters) – Luggage maker Samsonite is aiming for an end-May listing hearing with the Stock Exchange of Hong Kong, IFR reported on Friday, part of a preparation for an initial public offering (IPO).
Before launching an IPO, all companies need to meet the exchange to get a formal approval from its listing committee to go public.
Luxembourg-based Samsonite, owned by private equity firm CVC and Royal Bank of Scotland following a debt restructuring last year, is expected to raise up to $1.5 billion, said IFR, a Thomson Reuters unit.
The firm has picked Goldman Sachs Group Inc , HSBC Holdings Plc and Morgan Stanley as joint global co-ordinators for the planned Hong Kong IPO.
Royal Bank of Scotland Plc and UBS AG have been named joint book runners. (Editing by Miral Fahmy)