Top Glove - CGS-CIMB Research 2021-10-29: Plans To Continue Pursuing HKEX Dual Listing

Top Glove - Plans To Continue Pursuing HKEX Dual Listing

TOP GLOVE CORPORATION BHD (SGX:BVA) | SGinvestors.ioTOP GLOVE CORPORATION BHD (SGX:BVA)
  • 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
SGX Stock Analyst Report HOLD MAINTAIN HOLD 0.970 SAME 0.970




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.

Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividends & Corp Actions,
Top Glove News Articles





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