Samsonite raises HK IPO size to nearly $1.3B

HONG KONG (AP) - Samsonite International S.A. is raising the size of its recent Hong Kong initial public offering to nearly $1.3 billion.

The world's largest luggage maker said late Sunday that it's selling 24.6 million extra shares through an overallotment option at the offer price of HK$14.50. That would raise HK$358 million ($46 million).

Last month, Samsonite raised HK$9.73 billion ($1.25 billion) by selling 672.2 million shares. It's one of a string of foreign companies that have gone public in Hong Kong this year. They've been drawn by China's strong economic growth and increasingly affluent consumers.

Samsonite said the extra shares would come from its major shareholders, CVC Funds and Royal Bank of Scotland, and the money raised would go to them.