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Samsonite Launches $50 Million Share Buyback Program

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Samsonite (HKG:1910) will launch a share buyback program of up to $50 million starting Thursday, according to a Wednesday Hong Kong bourse filing.

Shares of the luggage maker were up nearly 4% in Thursday morning trade.

Based on the May 12 closing price of HK$14.04, the company said the full utilization of the program could repurchase about 2.01% of its issued shares, excluding treasury shares.

Samsonite intends to hold repurchased shares in treasury and fund the buybacks using internal resources.

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