SAMSONITE (01910) rose more than 4%, with the stock up 4.07% to HK$19.44 at the time of writing. The trading volume was HK$42.78 million.

Recently, the company announced a proposal to seek shareholder approval for an authorization to issue shares in connection with a dual primary listing. Guotai Haitong noted that SAMSONITE plans to advance a dual listing in the United States via American Depositary Shares (ADS). The issuance authorization will remain valid until the conclusion of the annual general meeting scheduled for June 4, 2026.

The price of any new shares issued will be at a discount of no more than 15% to the last closing price and must not be discounted by 20% or more from the benchmark share price. Proceeds from the issuance are intended primarily for working capital and capital expenditures, repayment of existing debt, repurchases of the company's ordinary shares, and to fund potential acquisitions.

The firm believes the dual listing in the U.S. will make the company's shares more accessible to American and global investors and create long-term value for shareholders by providing initial trading liquidity. The proposed additional issuance has a maximum limit of approximately 138 million shares, representing 9.97% of the total issued shares excluding treasury shares.

Following the completion of the dual listing, the company plans to cancel all of its approximately 79.30 million treasury shares held. After deducting the cancellation of treasury shares, the net dilution effect on the increased share capital is estimated to be approximately 4.0%.