Top Glove shelves US$347mil Hong Kong listing - source

SYDNEY: Malaysia's Top Glove has postponed its plan to raise $347 million via a Hong Kong listing as Russia's invasion of Ukraine weighs on investor sentiment and heightens markets volatility, according to a person with direct knowledge of the matter.

The company, which benefited from demand for disposable gloves during the COVID-19 pandemic, has a primary listing in Kuala Lumpur and a secondary listing in Singapore, and had planned the Hong Kong listing to broaden its investor base.