Top Glove Bhd said that the company has given itself a longer period for its planned Hong Kong Stock Exchange, “HKEX” listing.
In a statement, it said that changing developments in the industry and the current equity market conditions, had prompted it do so.
“We are not in a hurry. Our decision is always for the long term benefit of the company and our stakeholders,” it said
Top Glove had announced in December last that it had secured shareholders’ approval at its extraordinary general meeting (EGM) for two resolutions in support of its HKEX listing plan.
It has proposed the issuance of new shares of up to 793.5 million new shares including an additional 103.5 million new Top Glove shares that may be issued under the Over-allotment Option if exercised in full.