Samsonite mandates five banks for Hong Kong IPO

Goldman Sachs, HSBC, Morgan Stanley, RBS and UBS bag the mandate to help Samsonite go public in Hong Kong.

Samsonite, the luggage manufacturer known for its hard suitcases, has mandated Goldman Sachs, HSBC, Morgan Stanley, Royal Bank of Scotland and UBS for its planned initial public offering in Hong Kong, sources said yesterday. The company hasn’t confirmed the targeted deal size, but the sources said the offering is expected to raise about $1 billion.

Given that the process is now underway, the IPO could possibly come towards the end of the second quarter, but a less aggressive estimate is that the company will wait until the second half. The arrangers were selected following a beauty parade last week that, according to a source, saw at least 10 banks pitch for the mandate.

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