Malaysia’s Top Glove said on Dec. 8 it had won shareholder backing to list its shares in Hong Kong. The deal, expected to launch early next year, would be a dual primary listing alongside its Kuala Lumpur home. Its stock also trades in Singapore.
The world’s largest maker of protective rubber handwear had wanted to list earlier in 2021 but dropped the plans after the United States banned imports of its products in March citing evidence of forced labour.Shares in Top Glove soared in the early stages of the pandemic, but have fallen 60% this year and are down 75% from their October 2020 peak.Top Glove Managing Director Lee Kim Meow speaks during an interview with Reuters, at Top Glove headquarters in Shah Alam, Malaysia August 11, 2020.
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