Samsonite shares dropped more than 10 per cent on their first day of trading in Hong Kong, despite being priced at the bottom end of the indicative range on Friday.
The debut by the US luggage maker represents a dismal performance that could hurt plans by other western brands to tap the Hong Kong stock market for capital.
Samsonite’s stock opened at HK$13 on Thursday, 10.3 per cent lower than its listing price of HK$14.50, against a 1.5 per cent fall in the benchmark Hang Seng index.
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