Top Glove slashes Hong Kong stock offering to RM4.22bil : vi

Top Glove slashes Hong Kong stock offering to RM4.22bil


has slashed the amount it planned to raise from its proposed listing of new shares in Hong Kong by almost half, as the Covid-19 vaccine rollout worldwide sapped investors' appetite for glove stocks.
The world's biggest glove company on Thursday said it will reduce the number of new shares to be sold to investors in Hong Kong to 793.5 million shares compared with 1.495 billion shares it had originally planned in February.
Shares in Top Glove has fallen 35% over the past six months, despite record quarterly profits, as investors expect that the recent surge in glove selling prices would be short lived.

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