Top Glove's share price rise 1.19% on proposed acquisition of Aspion

PETALING JAYA: Top Glove Corp Bhd’s share price rose 1.19% this morning on news of its proposed acquisition of surgical gloves maker Aspion Sdn Bhd.

At 10.58am, its share price rose 8 sen or 1.19% to RM6.83 with a total of 615,900 shares traded. The stock gained 5 sen to RM6.75 with 2.38 million shares traded last Friday.

Last Friday, the group told Bursa Malaysia that it had entered into a term sheet agreement with Adventa Capital Pte Ltd in relation to the acquisition, which will make Top Glove the world’s largest surgical gloves manufacturer.

Both parties will negotiate exclusively with one another until Jan 15, 2018 to enter into a definitive sale and purchase agreement.

Aspion is a wholly owned subsidiary of Adventa Capital Pte Ltd. Its directors are Low Chin Guan, Kwek Siew Leng and Wong Chin Toh.