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Disappointing debut on HKSE for Samsonite

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Disappointing debut on HKSE for Samsonite

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Luggage-maker Samsonite has had a poor performance on its first day on the Hong Kong Stock Exchange. Its share price fell by more than 10 percent, though it did raise enough to pay off debts.

The company is owned by a private equity group and Britain’s Royal Bank of Scotland. Entering the Hong Kong exchange is seen as a way of tapping into the emerging Asian market, now that recession has slowed the travel industry.