Top Glove Plans to Raise $1.9 Billion in Hong Kong Listing
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Top Glove Corp., the world’s biggest rubber glove maker, is seeking to raise as much as 7.77 billion ringgit ($1.9 billion) from a listing in Hong Kong to fund expansion and bolster its profile with overseas investors.
The company, whose shares are traded in Kuala Lumpur and Singapore, plans to issue up to 1.49 billion shares at a price to be set at a later date, according to an exchange filing on Friday. At $1 billion-plus, Top Glove’s listing would be the biggest ever by a Malaysian company in Hong Kong, according to data compiled by Bloomberg.