KUALA LUMPUR, Oct 27 (Reuters) - Malaysia’s Supermax Corp Bhd has proposed listing on the Singapore Exchange (SGX) to expand its shareholder base, it said in a bourse filing on Tuesday.
Supermax, the third largest rubber glove maker in Malaysia by market value, said the proposed listing is still in the initial stages, with more details to be announced if and when its board finalises the plan and approves it.
The potential listing comes after rival Top Glove Corp Bhd , the world’s largest producer of the medical protective gear, last month announced plans to list on Hong Kong’s stock exchange.
“The Proposed SGX Listing, if undertaken, is expected to expand and diversify the shareholder base of Supermax and serve as a platform for Supermax to pursue growth opportunities by providing additional channels for Supermax to raise funds, if necessary,” Supermax said. (Reporting by Liz Lee; Editing by Kirsten Donovan)
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