KUALA LUMPUR (March 9): Top Glove Corp Bhd said on Wednesday (March 9) the rubber glove manufacturer will continue to monitor market conditions and pursue a Hong Kong listing at the appropriate time in view of recent developments in global financial markets.
"The company would like to clarify on the reported news articles with regard to the delay in the company’s Hong Kong IPO (initial public offering) appearing on March 8, 2022.
"In view of the developments in global financial markets, the company will continue to monitor market conditions and pursue the Hong Kong listing exercise at the appropriate time.
"The company’s decisions are always for the long-term benefit of the company and its stakeholders," Top Glove said in a Bursa Malaysia filing.
At the 12.30pm break on Wednesday, the stock settled down seven sen or 3.74% at RM1.80, giving the company a market value of about RM14.42 billion.
Top Glove has 8.01 billion outstanding shares, according to its latest financial report filed with Bursa on Wednesday.
Top Glove 2Q net profit plunges 53% q-o-q, 97% y-o-y to RM88m as ASPs normalise to pre-pandemic levels
Top Glove’s share price tumbles to pre-pandemic level amid disappointing quarterly profit
Top Glove adds two independent non-executive directors to board to enhance ESG standards
Top Glove shelves HK listing as Ukraine war roils markets
HK listing postponement for long term benefit of company and stakeholders, says Top Glove