Hong Kong: Top Glove mulls HKEx listing

Top Glove, the world’s largest manufacturer of medical rubber gloves and which is already listed on the Bursa Malaysia and the SGX is considering a secondary listing in Hong Kong.

Top Glove said that the proposed HKEX listing was an early stage and that the structure of the listing had not been finalised.

Citigroup, CICC and UBS to have been attached to the deal that could raise as much as US$1bn.

Top Glove has been a darling of the international stock markets this year. In Malaysia, its shares are up 546% over the past 12 months, according to Bloomberg.

“The proposed HKEx listing if undertaken,” the company said in a statement, “will enable Top Glove to be present in the larger, more active and liquid stock exchange, enlarge and diversify its investor base, and also provide an alternate and larger fundraising platform to support the company’s future growth strategy.”