Top Glove shareholders okay SGX secondary listing

Singapore

IT'S all systems go for Malaysian-listed Top Glove's secondary listing on the local bourse, following shareholders' approval on Friday. Top Glove, the world's largest glove maker which supplies 25 per cent of global demand for rubber gloves, will list on the main board of the Singapore Exchange (SGX) on June 28.

It is expected to issue S$20 million of existing shares - the exercise will not involve the issuance of new shares - on the SGX. The listing, while not an initial public offering (IPO), will provide a welcome boost to the local bourse, which has been plagued by a dearth in IPOs and the delisting of big names.