According to ARC China’s newsletter, written by Adam Roseman, Samsonite International has the potential to raise $1.5 billion in an initial public offering in Hong Kong. Backed by CVC Capital Partners, Samsonite is offering 671.2 million shares in the city. The final IPO price was set last month.
Nelson Yan, investment manager at Mayfair Pacific Financial Group, said “Brand-name companies targeting mainland Chinese consumers have good growth prospects in the long term as China’s economy continues to grow fast. Samsonite’s valuation is relatively attractive compared to listed luxury goods makers.”