KUALA LUMPUR (Nov 11): Top Glove Corp Bhd today bought back another 8.91 million shares in the company, representing a 0.83% stake, for RM69.9 million.  

This is the second day running that the glove maker repurchased its own shares, spending close to RM140 million in the buyback exercise over the two days.  

The 8.91 million shares today were bought at between RM7.71 and RM7.90 per share, according to the group’s filing with Bursa Malaysia. 
 
The buyback yesterday involved 8.94 million shares or 0.72% stake bought at a total cost of RM69.9 million. It took place amid a significant drop in Top Glove’s share price, following Pfizer Inc's announcement of a viable Covid-19 vaccine candidate. 
 
Top Glove’s net outstanding treasury shares total 67.71 million units, following the recent buybacks. 
 
In September alone, the group had spent about RM355 million to buy back its shares in six transactions. 
 
Meanwhile, the Employees Provident Fund purchased 614,700 shares in Top Glove on Nov 6, raising its interest in the glove company to 6.045% or 491.37 million shares. 
 
Top Glove shares closed up six sen or 0.77% at RM7.86 today, with a market capitalisation of RM63.94 billion. Some 61.14 million shares were traded.