Feb 13 (Reuters) – Luggage maker Samsonite said on Friday it is seeking a dual listing on a U.S. stock exchange in a bid to increase its exposure to investors in more markets.
The company, which owns the American Tourister and Tumi luggage brands, said the potential listing would be through American depositary shares.
The company added that the listing would depend on global market and other conditions.
A dual listing in the U.S. would make shares more accessible to global investors and increase the overall trading volume in the shares, Samsonite said.
The timing and manner of the dual listing is not yet determined, the company said, adding that it is also seeking shareholder approval.
Any proceeds from the potential listing will be used to cover operating expenses, capital expenditures, the repayment of debt and financing possible acquisitions, the company said.
(Reporting by John Biju in Bengaluru; Editing by Tasim Zahid and Maju Samuel)
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