Top Glove MD trims stake in group while chairman acquires more shares

Top Glove Corp Bhd managing director Datuk Lee Kim Meow

Top Glove Corp Bhd managing director Datuk Lee Kim Meow

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KUALA LUMPUR (Feb 5): Top Glove Corp Bhd managing director Datuk Lee Kim Meow (pictured) trimmed his equity interest in the rubber glove maker, while chairman and founder Tan Sri Lim Wee Chai increased his stake in the group today. 

According to bourse filings, Lee today disposed of 300,000 shares at RM6.58 apiece, 0.5% below the counter’s closing price of RM6.61, bringing his total stake in the group to 3.77 million shares or 0.0461%. 

On the other hand, Lim acquired 300,000 shares today at an average price of RM6.63 per share, 0.3% above today’s closing price, bringing his total holdings in Top Glove to some 2.8 billion shares or 34.875%. 

Top Glove senior independent non-executive director Datuk Lim Han Boon also increased his stake, acquiring 10,000 shares at RM6.59 per share today, bringing his stake to 260,000 shares or 0.003%.

Meanwhile, another filing showed that the Employees Provident Fund (EPF) disposed of 4.14 million shares in Top Glove on Feb 2, comprising one block of four million shares and another block of 143,900 shares.

Top Glove shares fell 10 sen or 1.5% today to close at RM6.61, giving it a market capitalisation of RM53.04 billion.

S Kanagaraju