HONG KONG: Shares of Samsonite International SA , the world's biggest luggage maker, dropped as much as 10.3 percent in its trading debut on Thursday, June 16, underscoring tepid investor appetites for IPOs in Hong Kong.
Samsonite shares fell to HK$13 in early trading after pricing its $1.25 billion initial public offering at HK$14.50 each, the bottom of a revised indicative range.
The weak debut comes as the benchmark Hang Seng Index has declined in 10 of the last 11 sessions, down nearly 7 percent and weighing on investor demand for new stock sales.
The company had initially set an indicative range for the IPO of HK$13.50 to HK$17.50 per share, but narrowed it to $14.5 to $15.50 on June 9.
Samsonite and shareholders including private equity firm CVC Capital Partners and Royal Bank of Scotland Group Plc , sold 671.2 million shares to raise HK$9.73 billion ($1.25 billion). - Reuters
Samsonite shares fell to HK$13 in early trading after pricing its $1.25 billion initial public offering at HK$14.50 each, the bottom of a revised indicative range.
The weak debut comes as the benchmark Hang Seng Index has declined in 10 of the last 11 sessions, down nearly 7 percent and weighing on investor demand for new stock sales.
The company had initially set an indicative range for the IPO of HK$13.50 to HK$17.50 per share, but narrowed it to $14.5 to $15.50 on June 9.
Samsonite and shareholders including private equity firm CVC Capital Partners and Royal Bank of Scotland Group Plc , sold 671.2 million shares to raise HK$9.73 billion ($1.25 billion). - Reuters
No comments:
Post a Comment