Date Announced: 06/15/2011
client: Samsonite International S.A. and CVC Capital Partners
Status: Closed – 06/2011
Value: $1.3 billion Read the case study
On June 16, 2011, Samsonite International S.A. (“Samsonite”), the world’s largest travel luggage company by retail sales value in 2010, successfully listed on the Hong Kong Stock Exchange. The offering consisted of 18% primary shares and 82% secondary shares, with a 15% greenshoe option. The offering was launched with a price range of HKD13.50-17.50, and the final price was set at HKD14.50, implying a pre-greenshoe deal size of $1.3 billion at a valuation of 18.3x 2011PE, and a market capitalization of $2.6 billion at the time of listing.
Moelis & Company was selected as exclusive financial advisor by Samsonite and CVC through a competitive process held in January 2011 and played a key role in the listing, including:
Moelis & Company contributed significantly to the seamless execution of the IPO with the initial A-1 listing application submitted within four months and approval received from the Hong Kong Stock Exchange for Samsonite’s listing granted within 10 weeks of submission.