Sri Trang Gloves rises on approval for Singapore listing

Shares of Sri Trang Gloves Thailand (STGT), one of the leading rubber glove producers, rose 2.82 per cent to 45.50 baht on Wednesday after it announced an approval from regulators to list on Singapore Exchange Limited (SGX-ST).

STGT trades had a transaction value of 551 million baht as of 10:42 am as one of the market gainers despite a broader dive after a long weekend, while its parent firm, Sri Trang Argo (STA), rose 2.65 per cent to 48.50 baht.

The glove maker said it received a letter of conditional eligibility-to-list from the SGX-ST regarding the proposal for a secondary listing on Monday, according to the statement uploaded to the Stock Exchange of Thailand on Wednesday.

STGT notified the market in November that it was preparing to list in Singapore.

“An introductory document containing details of the proposed secondary listing is targeted to be published on May 7 on SGX-ST” prior to the listing process, said Thanawan Sa-ngiamsak, the chief financial officer.

For the quarterly results, STGT is expected to report a strong net profit of the first quarter at 10.2 billion baht given surging demand for rubber gloves amid the ongoing Covid-19 outbreak in many countries, according to Asia Plus Securities.

Stock Price Info

Stock Fundamental

Peer Comparison

Stock Price Chart

Listen to this story

COVID-19

Targeted screening finds Covid infection rates of 10 per cent in Silom cluster

Pro-active screenings for coronavirus found 10 percent of people infected in a cluster centred around the gem-market community in...

Latest article

Five Thai artists making waves in global entertainment

It’s long overdue but Asians are winning big and getting recognized on the global stage - cue Parasite, Bong Joon Ho, CLOY, and Chloe...

Targeted screening finds Covid infection rates of 10 per cent in Silom cluster

Pro-active screenings for coronavirus found 10 percent of people infected in a cluster centred around the gem-market community in the Silom area of Bangkok,...

Thai Airways jumps more than 25 percent ahead of trading suspension

Shares of Thai Airways International (THAI) jumped more than 25 per cent on Friday ahead of its last trading day on next Monday, amid...

Buriram makes Covid vaccines compulsory for high-risk groups

Buriram ordered people in high-risk groups to take coronavirus vaccine or face fine and jail time, the province announced this week.The official order was...

Opinion: Outbreak in the prisons gives us opportunity to ask serious question of criminal justice system

Thailand’s coronavirus pandemic has now spread to the prison system with thousands of inmates testing positive for the virus.High profile activists have been struck...

Thai communities grapple with pollution in economic corridor

Landfill, waste sorting and recycling operations take over Thailand’s Eastern Economic Corridor, polluting traditional farmland.hey are burning and smelting electronic stuff again,” says...
Listen to this story