Samsonite bags $1.25 billion from Hong Kong IPO

Luggage specialist Samsonite International has raised HK$9.73 billion $1.25 billion ahead of its Hong Kong listing later this week after fixing the price at HK$14.50 per share. The final price is in the lower half of the initial range of HK$13.50 to HK$17.50 and at the bottom of the HK$14.50 to HK$15.50 guidance given to investors towards the end of the bookbuilding, which seems symptomatic of the current market environment.

The Hang Seng Index fell for a seventh straight...