Luggage maker Samsonite plans to meet with investment banks next week as it prepares for an initial public offering in Hong Kong, Reuters reported. The IPO is expected to be worth about $1 billion. Luxembourg-based Samsonite is owned by private equity firm CVC and the Royal Bank of Scotland. An IPO is expected to come during the last half of 2011.
(Reuters) – Luggage maker Samsonite will meet with investment banks next week in preparation for a Hong Kong IPO worth about $1 billion, sources with direct knowledge of the matter told Reuters.
Luxembourg-based Samsonite, owned by private equity firm CVC [CVC.UL] and Royal Bank of Scotland following a debt restructuring last year, adds to the list of European consumer related companies listing in Hong Kong.
The offering is expected to come in the middle or second half of the year.
(Reporting by Michael Flaherty and Fiona Lau; Editing by Ken Wills)