Samsonite gets packing for IPO
Saturday 14 May 2011
Samsonite, the luggage maker backed by the private equity firm CVC Capital Partners and Royal Bank of Scotland, is lining up an initial public offering in Hong Kong.
The IPO, which was approved by the exchangeyesterday, could raise up to $1.5bn (£921m).
Samsonite is set to join theluxury goods maker Prada,the handbag designer Coach,the commodities traderGlencore and other globalmultinationals looking toraise funds in Hong Kong,the world's top IPO marketfor two years running.
The luggage maker was founded in the US in 1910 as the Shwayder Trunk Manufacturing Company. One of its early suitcases was called the Samson, and the company changed its name to Samsonite in 1966.
In 2007 it was bought by CVC, but was hit by a slump in international travel and in consumer confidence during the financial crisis. RBS became part-owner of the brand in a debt for equity swap in 2009.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 2 Orange Is The New Black has not been cancelled – it was a hoax
- 3 Why I'm on the brink of burning my Israeli passport
- 4 Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Pope Francis: ‘One in 50’ Catholic priests, bishops and cardinals is a paedophile
Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Supermoon 2014 in pictures: Moon appeared bigger and brighter at the weekend
Saharan remains may be evidence of first race war, 13,000 years ago
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
iJobs Money & Business
£35000 - £40000 per annum + Benefits: Ashdown Group: HR Advisor - 6 Months Fix...
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...