Hong Kong-listed Samsonite plans dual listing in hunt for investors

investing.com:

(Reuters) -Luggage maker Samsonite International on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets.

Samsonite did not provide details of the exchanges it is considering for the second listing, saying «pursuit of a dual listing is at an early stage».

The U.S. would be the likely venue, said two people familiar with the situation.

Samsonite joins global names such beauty-shop chain L'Occitane and fashion house Prada (OTC:PRDSY) in searching for options beyond Hong Kong, where valuations have dropped in the decade since booming private wealth persuaded non-Asian brands to raise their profile in the region.

The company, which was founded in the U.S. in 1910 and also owns the American Tourister and Tumi luggage brands, said an additional listing would allow it to reach investors in markets that are an important part of its global footprint and growth drivers for its business.

Samsonite explored a take-private earlier this year and has held discussions with advisers and investors, Reuters has reported.

The company said its board decided to focus on pursuing a dual listing after a preliminary review of potential paths.

«The Asia market continues to be incredibly important for the group's core brands, and the company looks forward to continuing to successfully grow its business there and in other regions around the world,» Samsonite said in its filing.

Asked if Samsonite would consider a U.S. listing, the company said in an emailed response to Reuters that it has nothing to add beyond its announcement on Friday morning.

«We will make further announcements in accordance with applicable laws and