KUALA LUMPUR (Feb 22): Shares of Top Glove Corp Bhd fell as much as 24 sen or 4.7% today, after the group priced US$200 million (about RM814 million) in principal amount of exchangeable bonds yesterday.
At 11.06am today, the counter was trading at RM4.86 with a volume of 94,802 shares, and a market capitalisation of RM13.24 billion.
Yesterday, Top Glove said proceeds from the five-year bonds with a coupon rate of 2% a year will refinance the existing debt of the group and payment of fees and expenses relating to the bonds issue.
Top Glove's first quarter ended Nov 30, 2018 (1QFY19) booked a net profit of RM110.1 million compared to RM105.4 million the previous year.
Among other things, Top Glove's borrowings as of 1QFY19 was unaudited at RM918.3 million, and its cash flow stood at RM202 million, also unaudited.