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Author: gloveharicut   |   Latest post: Fri, 16 Apr 2021, 11:29 AM

 

TOPGLOV applies for dual primary listing on Hong Kong bourse

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https://www.nst.com.my/business/2021/02/669353/top-glove-applies-dual-primary-listing-hong-kong-bourse
 

Top Glove applies for dual primary listing on Hong Kong bourse

KUALA LUMPUR: Top Glove Corporation Bhd, the world's largest manufacturer of gloves, has submitted an application for the primary listing on the Main Board of The Stock Exchange of Hong Kong (HKEX).

In connection with the proposed listing on the HKEX, Top Glove proposed to undertake a global offering of its shares.

Top Glove said it would maintain its existing primary listing on Bursa Malaysia's Main Market and its existing secondary listing on the Main Board of Singapore Exchange Securities Trading Ltd (SGX).

"During these extraordinary times, Top Glove has swiftly responded to heightened demand by our customers

worldwide for our quality gloves and personal protective equipment (PPE)," executive chairman Tan Sri Dr Lim Wee Chai said in a statement today.

"A dual primary listing in Hong Kong would create an expanded global platform that can enable the group to raise capital for business growth, geographic expansion, and strategic investments and acquisitions.

"We aim to increase our production capacity, upgrade our facilities, and invest in new technologies to improve our offering and response time for our customers around the world, which will help to further strengthen our position as the world's largest manufacturer of gloves and to enhance stakeholders' long term value," he added.

Managing director Datuk Lee Kim Meow said as health awareness remained high and economies worldwide gradually recover, it was dedicated to pursuing technology-driven improvement initiatives.

"An additional primary listing can provide the group with an expanded platform to finance and accelerate these initiatives," he added.



 

 

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Chart Stock Name Last Change Volume 
TOPGLOV 5.57 +0.13 (2.39%) 62,300,000 

  2 people like this.
 
LimitUp The moment has arrived for us to top up TG shares.
26/02/2021 8:28 PM
witan Once listed in HK with millions of new retailers/investors from China and HK market, just a matter of time before TG fly again
27/02/2021 8:03 AM
witan Thank you Tan Sri for thinking far ahead
27/02/2021 8:03 AM
weisheng1998 hahaha top up to stuck?
28/02/2021 12:10 AM
Brutus Most companies just plan private placement to raise capital, in the process diluting existing shares.
Likewise here but with the successful DL in HKE, at least existing shareholder's shares NTA increase.
28/02/2021 12:01 PM
OrlandoOilSemiconT TG building MOAT?
28/02/2021 12:24 PM
OrlandoOilSemiconT TG most likely to succeed as a Fortune 500 company
28/02/2021 12:26 PM
Timercheng I think it is a stepping stone for Topglov to prepares for exit from Bursa in future
28/02/2021 1:04 PM
jeehuat This is the only way to value the share of the company. With the RSS and Kampong investors who do not base so much on foundemental to invest. Busar is not so proper to provide a gate way to grow big to international level and to capitalize situational demands. You can reflex that is why most of the local stock values only at Rm 1 and below. TG approach laid down its long term planning to protect local investors that is not well treated fairly to the competitive world because the company listed in Malaysia.
28/02/2021 2:07 PM
signn why should i list my company in a market where it is kena constantly bashed? n press down? where is the so called free market valuations principles? basic pun tak ada...i cabut lo
28/02/2021 2:16 PM
signn all companies are 1st n foremost profit oriented. this is capitalism...podah...
28/02/2021 2:18 PM


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