HONG KONG: Top Glove Corp’s plan to list in Hong Kong and raise up to US$1bil (RM4.13bil) has been delayed as the world’s largest rubber glove maker seeks to resolve a US import ban on its products, sources with direct knowledge of the matter said.
HONG KONG/KUALA LUMPUR/SINGAPORE (June 1): Top Glove Corporation Bhd s plan to list in Hong Kong and raise up to US$1 billion has been delayed as the world s largest rubber glove maker seeks to resolve a US import ban on its products, sources with direct knowledge of the matter said.
The Malaysian firm, which is already listed in Kuala Lumpur and Singapore, flagged in late April it would sell 793.5 million shares in the listing, half what the company proposed in its application to the Hong Kong Stock Exchange in February.
However, the deal has stalled as the company awaits indications from US Customs and Border Protection (CBP) on whether an imports ban would be lifted any time soon, the sources told Reuters.
Top Glove reiterates commitment to work closely with US CBP to resolve WRO, finding thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR, May 13 Top Glove Corporation Berhad repeated today its commitment to work with the US Customs and Border Protection (CBP), after a shipment of approximately RM2.8 million’s worth of its latex gloves were seized by the authorities. In a statement today, Top Glove stressed that it.
Top Glove in import battle with US government
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Cleveland, Ohio The world s largest rubber glove manufacturer is claiming to have resolved nearly a dozen allegations involving forced labor in an attempt to resume shipments to the U.S.
This follows seizure of about 4 million Top Glove Corp. nitrile rubber gloves at a port in Cleveland by U.S. Customs and Border Patrol agents earlier this month.
Top Glove, in a May 5 statement, said it continues to work closely with the U.S. CBP and an April 22 report by independent consultant Impactt Ltd. proves the company previously resolved 11 indicators of forced labor.