Prime Glove’s $1 billion Hong Kong itemizing delayed amid U.S. ban imbroglio
© Reuters. FILE PHOTO: A employee inspects newly-made gloves at Prime Glove manufacturing unit in Shah Alam, Malaysia August 26, 2020. REUTERS/Lim Huey Teng
By Scott Murdoch, Liz Lee and Anshuman Daga
HONG KONG (Reuters) – Prime Glove Company’s plan to listing in Hong Kong to boost as much as $1 billion has been delayed because the world’s largest rubber glove maker seeks to resolve a U.S. import ban on its merchandise, sources with direct data of the matter mentioned.
The Malaysian agency, which is already listed in Kuala Lumpur and Singapore, flagged in late April it will promote 793.5 million shares within the itemizing, half what the corporate proposed in its utility to the Hong Kong Inventory Alternate in February.
Nonetheless, the deal has stalled as the corporate awaits indications from U.S. Customs and Border Safety (CBP) on whether or not an imports ban can be lifted any time quickly, the sources mentioned.
Prime Glove didn’t reply to a request for remark. The sources couldn’t be named as the data was not but made public.
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