Smart Glove picks banks for US$242m IPO

Smart Glove Corp picked Affin Hwang Investment Bank Bhd. and RHB Bank Bhd. for the potential share sale.

KUALA LUMPUR: Smart Glove Corp., a disposable glove maker in Malaysia, has selected banks for its planned initial public offering that could raise more than 1 billion ringgit ($242 million), according to people familiar with the matter.

The company has picked Affin Hwang Investment Bank Bhd. and RHB Bank Bhd. for the potential share sale, the people said. The offering could take place as soon as next year, said the people, who asked not to be named as the matter is private.