Samsonite IPO size rises to $1.3bn

Samsonite has increased the size of its stock-market offering in Hong Kong by $46m after underwriters exercised an option to sell additional shares amid demand for the stock.

The world's largest luggage manufacturer said its two largest shareholders, CVC Capital Partners and Royal Bank of Scotland had sold 24.66 million shares at the IPO price of HK$14.50. The move, which led to a reduction in CVC Capital's stake to 28.7 per cent from 29.8 per cent and a cut in RBS's shareholding to 15.2 per cent from 15.8 per cent, increases the size of the company's offering to nearly $1.3bn.