Singapore Exchange (SGX) has announced the secondary listing of Sri Trang Gloves (Thailand) on the Mainboard on May 10. The company is currently already listed on the Stock Exchange of Thailand.
The Thailand-based company is a subsidiary of Sri Trang Agro-Industry, which is also dual-listed in Thailand and Singapore. Sri Trang Gloves manufactures natural rubber gloves, powder-free natural rubber gloves and nitrile gloves. It has three production plants with a combined capacity of approximately 32.6 billion gloves per year.
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Viyavood Sincharoenkul, the executive committee chairman of Sri Trang Gloves, says that the secondary listing marks an important milestone in the company’s journey. “SGX is an internationally recognised gateway to the global investment community and we believe this listing will further elevate our global profile and enhance shareholders’ value," he says.
“We are excited to welcome Sri Trang Gloves to SGX. Our partnership with the Sri Trang Group started when Sri Trang Agro-Industry PLC listed on our Mainboard back in 2011. Today’s listing demonstrates the Group’s confidence in SGX as an international fundraising platform,” says Chew Sutat, head of global sales and origination at SGX.
The listing of Sri Trang Gloves brings the total number of secondary listings on SGX to 29. It will also join SGX’s healthcare sector, which has a combined market capitalisation of around $110 billion.
