KUALA LUMPUR: Top Glove Corp Bhd is seeking to raise RM7.77bil by selling new shares in Hong Kong.
In a filling with Bursa Malaysia today, he world's biggest maker of the protective gear by volume said the dual primary listing on the Hong Kong Stock Exchange involved the issuance of up to 1.495 billion new shares.
This is 18.65% of the group's total issued shares of 8.02 billion. The issue price for the new shares will be fixed at a later date.
"As part of the Proposed Dual Primary Listing, all existing Top Glove Shares, which are currently listed and traded on Bursa Securities and Singapore Exchange, together with the new Top Glove Shares to be issued will be fungible between these three stock exchanges," Top Glove said.
Details regarding the process to transfer Top Glove shares among these three stock exchanges and the fees payable will be set out in the circular, to be issued later.