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). STR/FAIZ ANUAR
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.
LimitUp
The moment has arrived for us to top up TG shares.
2021-02-26 20:28