Top Glove overtakes TNB as third-biggest listed company
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Title : Top Glove overtakes TNB as third-biggest listed company
Category : Malaysians
Worldwide demand for rubber gloves has driven up the share price of Top Glove. (Bernama pic)KUALA LUMPUR: The world’s largest glove manufacturer, Top Glove Corporation Bhd, has emerged as the third biggest company on Bursa Malaysia, overtaking Tenaga Nasional Bhd, as the company’s market capitalisation increased to RM64.73 billion as of the close of trading today. At 5pm, Top Glove’s share price closed at 9% higher, up RM2.08 higher at RM24, with 32.6 million shares traded. The counter hit its all-time high of RM24.50 today, and is behind only Maybank (RM88.7 billion) and Public Bank (RM71.9 billion), the two biggest stocks in terms of market capitalisation. TNB’s market value was RM64.58 billion at the close of trading today. Top Glove chairman Lim Wee Chai said the company hopes to build two factories every year to keep pace with the global demand for rubber gloves amidst increa…
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