Malaysia’s Prime Glove plans to resume lapsed itemizing utility
KUALA LUMPUR: Malaysian glovemaker Prime Glove Corp plans to resume its lapsed utility to listing in Hong Kong and pursue a twin main itemizing, a inventory market submitting confirmed on Thursday (Aug 26).
Its plans had been delayed, sources advised Reuters in June, as Prime Glove sought to resolve a US import ban on its merchandise due to compelled labour practices that had spooked traders and bankers.
Prime Glove mentioned it has resolved any compelled labour points in its operations and mentioned in June that it has been ready for U.S. customs authorities to confirm remedial motion taken on employees’ recruitment charges.
The world’s largest glovemaker’s inventory market submitting on Thursday mentioned it “intends to resume the HKEX itemizing utility as quickly as practicable”.
Prime Glove, which is already listed in Kuala Lumpur and Singapore, introduced in April that it will scale back the scale of its proposed itemizing by almost half to US$1 billion.