KUALA LUMPUR (Sept 10): Top Glove Corp Bhd spent nearly RM100 million on share buy-backs today.

In a bourse filing, the rubber glove maker said it bought 14.93 million shares in the group at between RM6.12 and RM7.40 for a total sum of RM99.93 million.

Yesterday, Top Glove also announced a share buy-back of 1.39 million shares for RM9.995 million.

Following today's purchase, the group said its cumulative net outstanding treasury shares have risen to 18.31 million, while its adjusted issued capital after cancellation is 8.13 billion shares.

Top Glove was the 12th biggest loser on Bursa Malaysia today, and also the third most active stock.

It finished the trading day 9.79% or 70 sen lower at RM6.45, valuing the group at RM52.46 billion. Some 168.85 million shares were transacted.

Today alone, Top Glove lost RM5.67 billion in market capitalisation. Since Aug 27, its market capitalisation has fallen by RM19.05 billion from RM71.5 billion.

In a separate bourse filing, Top Glove said it will be releasing its financial results for the fourth quarter ended Aug 31, 2020 and the full financial year next Thursday.

For the nine months ended May 31, 2020, the group's net profit doubled to RM575 million, from RM290.51 million in the previous corresponding nine months. Revenue rose 14.26% to RM4.13 billion from RM3.61 billion.