Samsonite, the luggage maker owned by private equity firm CVC Capital Partners and Royal Bank of Scotland, has received approval for an initial public offering from the Hong Kong stock exchange, Reuters reported citing a source.

Hong Kong has dominated the world markets for IPOs in recent years, raising a record-breaking $57.8bn (£35.6bn) last year as companies chose to go East over New York or London.

Prada, the fashion house, has applied for a Hong Kong initial public offering which could value the Italian firm at around €8bn and allow it to draw Asian investors. If successful, the flotation would make fashion brand the first Italian company to list in Hong Kong.

via Samsonite gains approval for Hong Kong IPO – Telegraph.