28-05-2018, 06:30 PM
(This post was last modified: 02-06-2018, 04:41 PM by cyclone.
Edit Reason: Changed thread title
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Samsonite shares suspended again as company readies fresh response to short-seller attack
Luggage maker has already called accusations of questionable accounting by activist investor Blue Orca ‘misleading”, promises a further announcement
Laurie Chen
PUBLISHED : Monday, 28 May, 2018, 12:51pm
UPDATED : Monday, 28 May, 2018, 12:51pm
Shares in Samsonite, the world’s biggest luggage brand, were suspended from trading for a second time in Hong Kong on Monday, with the company saying it would make a further announcement in the wake of accusations by an activist investor last week.
US short-selling firm Blue Orca Capital had accused the company of questionable accounting practices and poor corporate governance in a report, triggering a near 12 per cent slide in the company’s share price last Thursday before the shares were briefly suspended.
The shares fell another 12 per cent when trading resumed on Friday, hitting a nine-month low of HK$26.80 and valuing Samsonite at US$4.8 billion.
More details in http://www.scmp.com/business/companies/a...h-response
Luggage maker has already called accusations of questionable accounting by activist investor Blue Orca ‘misleading”, promises a further announcement
Laurie Chen
PUBLISHED : Monday, 28 May, 2018, 12:51pm
UPDATED : Monday, 28 May, 2018, 12:51pm
Shares in Samsonite, the world’s biggest luggage brand, were suspended from trading for a second time in Hong Kong on Monday, with the company saying it would make a further announcement in the wake of accusations by an activist investor last week.
US short-selling firm Blue Orca Capital had accused the company of questionable accounting practices and poor corporate governance in a report, triggering a near 12 per cent slide in the company’s share price last Thursday before the shares were briefly suspended.
The shares fell another 12 per cent when trading resumed on Friday, hitting a nine-month low of HK$26.80 and valuing Samsonite at US$4.8 billion.
More details in http://www.scmp.com/business/companies/a...h-response
Specuvestor: Asset - Business - Structure.