Five months after their previous sell-down, private equity firm CVC Capital Partners and Royal Bank of Scotland have offloaded another batch of shares in Samsonite International, the world’s biggest travel luggage company, raising a combined HK$2.23 billion $287 million.
The deal was done at a fixed price on the back of a reverse inquiry and allocated to a small group of high-quality investors, a source said yesterday. The marketing was also targeted to a select group of accounts, which allowed the bookbuilding to take place over the weekend and the discount to be kept at a tight 3.3%. The deal was completed before the market opened yesterday.
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