On Monday, Top Glove announced it had listed the EBs with the principal amount being US$200mil on Bursa Securities (under the exempt regime) and Singapore Exchange Trading.
KUALA LUMPUR: Top Glove Corp Bhd
’s stock-borrow arrangement, which was introduced in connection with its exchangeable bonds (EBs) issuance, will increase short-term share price volatility of the glove maker, according to RHB Research Institute. The research firm said it gathered that the move was aimed at attracting a larger investor base for the EBs while ensuring the terms of the bonds would be more attractive and beneficial to the company.
Stock-borrow allows bond investors to hedge their positions when subscribing to the EBs.
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