Top Glove - Plans To Continue Pursuing HKEX Dual Listing
- In a Bursa announcement yesterday, Top Glove (SGX:BVA) said it has resubmitted its application for a dual primary listing on HKEX. (see also Top Glove's announcements via SGX).
- With this exercise, Top Glove plans to issue up to 793.5m new shares to raise net proceeds of RM2.2bn and enlarge its share base by 9.7%.
- We are slightly negative on the exercise given the dilutive effects. We estimate that our FY22-24F earnings per share forecast for Top Glove could be diluted by 4.2-6%. Reiterate Hold and target price pending updates on this matter.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Walter AW CGS-CIMB Research | https://www.cgs-cimb.com 2021-10-29 2021-10-29
Read also CGS-CIMB's most recent report:
2022-09-20 Top Glove - Tough Times Remain Ahead
Target prices by 3 other brokers at Top Glove Target Prices.
Listing of broker reports at Top Glove Analyst Report.
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividends & Corp Actions,
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