In a statement, the company, which is the world’s largest gloves manufacturer, said it would maintain its existing primary listing on Bursa Malaysia and secondary listing on the Singapore exchange.

Upon completion of the proposed exercise, Top Glove shares would be listed and traded in Malaysia, Singapore and Hong Kong and all such shares would be fungible/transferable among these three stock exchanges.

Executive chairman Lim Wee Chai said a dual primary listing in Hong Kong would create an expanded platform that can enable the group to raise capital for business growth, geographic expansion, and strategic investments and acquisitions.

Managing director Lee Kim Meow said a portion from the net proceeds would be invested in Top Glove’s environmental, social and corporate governance practices and initiatives.

The actual amount of proceeds to be raised from the proposed dual primary listing would depend on the number of new Top Glove shares to be issued and the final issue price of Top Glove’s new shares pursuant to the proposed dual primary listing, he said.