Sources tell Reuters Citigroup, CICC and UBS will manage the public issue. FMTNews TopGlove CICC
Top Glove is riding a wave of demand for its products in the midst of the Covid-19 pandemic.
PETALING JAYA: Leading glove manufacturer Top Glove Corp Bhd has hired banks to arrange a Hong Hong listing that could raise at least US$1 billion , sources told Reuters.Citigroup Inc, China International Capital Corporation and UBS will manage the listing, Reuters reported. Another source, also declining to be named as the process is private, said Top Glove, riding a wave of demand generated by the Covid-19 outbreak, could be more ambitious and look to raise as much as US$2 billion.
The company, already listed in Malaysia and Singapore, said in a filing to Bursa Malaysia on Monday it was evaluating a dual primary listing on Hong Kong’s stock exchange.“, if undertaken, will enable Top Glove to be present in a 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,” it said.
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