not vested
DJ MARKET TALK: Samsonite Down 1.5%;Stake Cuts Concerns Likely Weigh
0940 [Dow Jones] Samsonite (1910.HK) is down 1.5% at HK$11.58, adding to its 5.9% fall Tuesday on elevated volume.
There's no company-specific newsflow, but the losses could be due to concerns of further stake cuts by its shareholders RBS and private equity fund CVC Capital, which combined raised HK$1.68 billion via share placement (at HK$14.90 per shares) on Apr. 10, with a 90-day lock-up period.
According to a HKEx disclosure, CVC and RBS hold 23.33% and 12.51% stakes respectively in Samsonite after the April sale, and are the two largest shareholders.
Samsonite is now near the lower end of its 2012 trading band of roughly HK$11.00-HK$16.00, and could present an entry chance if assuming its recent share-price weakness is due to concerns about stake cuts rather than fundamentals.
Source: Dow Jones Newswire