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NewsHot Stock Top Glove falls 1.46% at Bursa while making SGX debut
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Hot Stock Top Glove falls 1.46% at Bursa while making SGX debut
by Cals Wed 29 Jun 2016, 03:10
- Hot Stock
[size=28]Top Glove falls 1.46% at Bursa while making SGX debut
By Surin Murugiah / theedgemarkets.com | June 28, 2016 : 11:02 AM MYTKUALA LUMPUR (June 28): Top Glove Corporation Bhd shares fell 1.46% at mid-morning at Bursa Malaysia while the world's largest rubber glove maker made its trading debut on the main board of the Singapore Exchange Securities Trading Ltd (SGX) today.
At 10.11am, Top Glove fell 7 sen to RM4.73 with 1.65 million shares done.
In a statement today, Top Glove said it had undertaken its secondary listing on the SGX with the aim of adding and creating value for its shareholders and stakeholders.
The glove maker said the secondary listing is also expected to enhance Top Glove's investor reach and diversify its investor base, enabling the company to tap into a new platform for potential future fundraising.
It also serves to enhance the visibility of the company's profile among international investors, analysts and media, said the company.
Top Glove executive chairman Tan Sri Dr Lim Wee Chai said the company is proud to be associated with an advanced and efficient country like Singapore.
"Aside from giving us access to the Singapore market, we view it as an opportunity for us to upgrade our quality, image and branding in the global arena," he said.
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