Top Glove launches 5m shares placement at S$1.71 apiece

TOP Glove Corp has launched the placement of five million existing listed and traded ordinary shares in the capital of the company (subject to top-up option) at S$1.71 per share in Singapore.

The placement is done through automated teller machines and the Internet banking website of DBS Bank, including POSB.

The shares, held by the company's executive director Tong Siew Bee, are being placed out to fulfil in part the undertaking in connection Top Glove's secondary listing on the Singapore Exchange to facilitate trading liquidity of the shares in Singapore by investors in a meaningful manner, it said.

DBS Bank is the sole placement agent for the exercise.

The counter closed at S$1.83 on Friday, up one Singapore cent or 0.5 per cent.