ChangiAska
2021-04-22
Medical grade glove will always be in demand as long as the pandemic exists
Top Glove Slashes Size of Hong Kong Share Sale to $1 Billion
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The fundraising target stands reduced to 4.22 billion ringgit ($1 billion) from 7.77 billion ringgit previously, according to the filing.</p>\n<p>The revision comes despite the resurgence in Covid cases in some parts of the world that’s improved the outlook for producers of medical gloves. Top Glove’s shares are up 24% this month and were among the top gainers on Malaysia’s main index on Thursday along with peers Supermax Corp. and Hartalega Holdings Bhd.</p>\n<p>Top Glove, which is seeking a listing in Hong Kong to bolster its profile with overseas investors, was one of Asia’s hottest pandemic trades for 2020 before the rollouts of vaccines around the world dimmed their appeal.</p>\n<p>Pressure on the company deepened in late March when the U.S. Customs and Border Protection ordered personnel at U.S. ports of entry to seize gloves made in Malaysia over allegations of forced labor. Top Glove earlier this month said it is working with the U.S. authorities to resolve the issues to help lift the ban.</p>\n<p>Top Glove in February said the Hong Kong exchange listing will allow direct participation by new private and institutional investors in North Asia. The reduction in the issuance will minimize dilution to existing shareholders, according to the filing Thursday.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top Glove Slashes Size of Hong Kong Share Sale to $1 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop Glove Slashes Size of Hong Kong Share Sale to $1 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 22:28 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-04-22/top-glove-slashes-size-of-hong-kong-share-sale-to-1-billion?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Top Glove Corp., the world’s largest rubber glove maker, cut the size of its share sale in Hong Kong by nearly half of its earlier target.\nThe company, whose shares are traded in Kuala Lumpur and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-22/top-glove-slashes-size-of-hong-kong-share-sale-to-1-billion?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TPGVF":"Top Glove Corp.","BVA.SI":"顶级手套有限公司","TGLVY":"Top Glove Corp."},"source_url":"https://www.bloomberg.com/news/articles/2021-04-22/top-glove-slashes-size-of-hong-kong-share-sale-to-1-billion?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150823744","content_text":"Top Glove Corp., the world’s largest rubber glove maker, cut the size of its share sale in Hong Kong by nearly half of its earlier target.\nThe company, whose shares are traded in Kuala Lumpur and Singapore, will issueup to793.5 million shares, down from 1.49 billion announced in February, it said in a filing on Thursday. The fundraising target stands reduced to 4.22 billion ringgit ($1 billion) from 7.77 billion ringgit previously, according to the filing.\nThe revision comes despite the resurgence in Covid cases in some parts of the world that’s improved the outlook for producers of medical gloves. Top Glove’s shares are up 24% this month and were among the top gainers on Malaysia’s main index on Thursday along with peers Supermax Corp. and Hartalega Holdings Bhd.\nTop Glove, which is seeking a listing in Hong Kong to bolster its profile with overseas investors, was one of Asia’s hottest pandemic trades for 2020 before the rollouts of vaccines around the world dimmed their appeal.\nPressure on the company deepened in late March when the U.S. Customs and Border Protection ordered personnel at U.S. ports of entry to seize gloves made in Malaysia over allegations of forced labor. Top Glove earlier this month said it is working with the U.S. authorities to resolve the issues to help lift the ban.\nTop Glove in February said the Hong Kong exchange listing will allow direct participation by new private and institutional investors in North Asia. The reduction in the issuance will minimize dilution to existing shareholders, according to the filing Thursday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":249,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":62,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/376856365"}
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