Samsonite sells HK IPO shares at low end of range

HONG KONG: Samsonite International S.A. raised US$1.25 billion by selling shares at the lower end of the proposed price range in its Hong Kong IPO, a person familiar with the deal said Friday, amid waning investor interest as stock markets slump.

The world's biggest luggage maker is selling 671.24 million shares at 14.50 Hong Kong dollars, said the person, who spoke on condition of anonymity because they weren't authorized to comment officially.