PETALING JAYA: Top Glove Corp Bhd’s listing application on the Hong Kong Stock Exchange (HKEX) will progress to the next stage, for the approval of HKEX.
The proposed listing is expected to be completed by the first quarter of 2022, barring unforeseen circumstances and subject to the relevant approvals being obtained.
At the group’s EGM today, shareholders approved all resolutions recommended by the board in support of the company’s dual primary listing on HKEX.
Top Glove’s proposed dual primary listing on Main Board of HKEX will create an expanded global platform, enabling the group to raise an estimated RM2.2 billion in capital for business growth, geographic expansion, strategic investments, accretive M&As, R&D, digitalisation, automation and IT initiatives to upgrade facilities and machines; as well as enhancing environmental, social and governance practices and initiatives.
Upon completion of this exercise, Top Glove shares will be fungible among the three stock exchanges it is listed on namely Bursa Securities, SGX-ST and HKEX, which is a highly liquid and active market.