Samsonite Said to Keep Buyout Option Open While Weighing Dual Listing

-- Hong Kong-listed Samsonite International SA is keeping the possibility of a take-private deal open even as the luggage maker considers a dual listing in the US, according to people familiar with the matter.Reddit Soars 48% in Debut as AI Pitch Gets Warm Reception

Shares in Samsonite slid as much as 12% following the company’s announcement Friday, the biggest drop in more than two years.In its statement Friday, Samsonite said the pursuit of a dual listing is at an early stage, and it didn’t mention any exchanges that it might be considering or the potential for a take-private deal.

Samsonite has been considering the possibility of a second listing in the US as a way to broaden its investor base, Bloomberg News reported last year. The company, which raised about HK$10 billion in its Hong Kong initial public offering in 2011, is one of several major consumer brands considering their options as a stock market slump weighs on valuations. Hong Kong’s benchmark Hang Seng Index has fallen more than 40% over the past three years, while Samsonite has climbed 60% in that time.

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