Hartalega seeks main board listing by mid-year

KUALA LUMPUR: Glove manufacturer Hartalega Holdings Bhd expects to be listed on the Bursa Malaysia main board by mid-year.  

Hartalega has formalised an underwriting agreement with its financial adviser, managing underwriter, underwriter and placement agent, RHB Investment Bank Bhd, and underwriter OSK Investment Bank. 

“This listing is very much aligned with our plans to fortify our position,” managing director Kuan Kam Hon said in a statement yesterday. 

For the listing exercise, a total of 24.21 million ordinary shares will be offered whereby some 12.12 million shares will be made available to the public and 4 million shares for eligible directors, employees and business associates. 

Another 8.01 million shares will be made available for application by identified investors by way of private placement. 

Kuan said the glove-manufacturing sector was currently being viewed upon positively as “it continues to hold much potential given Malaysia's pole position in this sector globally.” 

Hartalega currently exports its products to countries in the Americas, Asia, Europe and Africa as well as Australia. 

Hartalega was incorporated on July 24, 2006, as an investment holding company to facilitate its listing on Bursa Malaysia.  

As part of its listing scheme, Hartalega acquired Hartalega Sdn Bhd, Sentinel Engineering (M) Sdn Bhd, Pharmatex (USA) Inc and Pharmatex (Australia) Pty Ltd on May 7, 2007.  

The Hartalega group, which has been making premium latex gloves since 1988, currently has manufacturing plants with a total of 23 production lines that can produce 3.2 billion gloves annually. – Bernama  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Delay in border reopening key factor affecting Malaysia's competitiveness ranking - Tengku Zafrul
Malaysia's Feb import unit value index up 0.6%
SCIB bags RM16.8mil school building project in Sarawak
LSH Capital shareholders give nod to proposed expansion into property development
Meta Bright inks solar programme agreements with five mosques, surau in Johor
Enra inks RM41mil bareboat charter contract
FBM KLCI holds on to 1,400
Ringgit opens higher against US$ ahead of BNM annual report
Positive on Gamuda's London office refurbishment project
Bursa slightly higher after SVB takeover deal

Others Also Read