TOP Glove Corporation said last week that it will nearly halve the amount of capital it plans to raise in conjunction with its listing in Hong Kong.

In a filing on April 22, the Malaysia-based company said the revision takes into consideration the best interests of its existing…

At a briefing following the announcement of its results, the company also said it would delay its Hong Kong IPO for a few months following the US ban on its gloves over issues of forced labour.

The robust performance was mainly due to technological advancements and research and development, the glove maker said in a filing on Wednesday. Global demand for gloves remains resilient as glove usage continues to rise, driven by the ongoing pandemic, it added.

Earnings per share (EPS) stood at 25.44 sen for Q3, up from 4.39 sen a year ago, although the group noted that last year’s EPS for the quarter had been adjusted to reflect the bonus issue of two for every one existing ordinary share which was completed on Sept 7, 2020.