KUALA LUMPUR (May 26): The Employees Provident Fund (EPF) appears to selling shares in major glove makers Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd in a synchronised manner, possibly as the Covid-19 pandemic-driven jump in glove demand normalises at a time when global vaccination progress offers hope that the outbreak can be curbed, according to these companies' latest filings on Wednesday (May 25) on changes in their substantial shareholders' holdings.

Top Glove said the EPF last Friday disposed of a collective 11.67 million Top Glove shares in two tranches of 11.44 million and 228,900 shares respectively.

After the sale, the fund still had a direct ownership of 402.19 million shares representing a 5.023% stake in Top Glove, according to the glove maker.

Meanwhile, Hartalega said the EPF last Friday disposed of a collective 251,800 Hartalega shares in two tranches of 182,400 and 69,400 shares respectively.

After that, the fund still had a direct ownership of 272.01 million shares or a 7.936% stake in Hartalega.

On the other hand, Kossan said the EPF disposed of two million Kossan shares last Thursday before selling another 3.86 million shares last Friday.

After the sale, the fund still had a direct ownership of 209.18 million shares representing an 8.198% stake in Kossan, according to the latter.

https://www.theedgemarkets.com/article/epf-sells-glove-shares-pandemicdriven-demand-normalises