Company Briefs : Top Glove

The world's largest rubber glove manufacturer is selling 793.5 million new shares, an issuance expected to raise HK$7.94 billion (S$1.36 billion).

Malaysia-headquartered Top Glove on Thursday said net proceeds, after deducting underwriting commissions, the discretionary incentive fee and revised estimated expenses in relation to the global offering payable by the company, are estimated at HK$7.84 billion. Sixty per cent of the proceeds, or about HK$4.7 billion, will be used to expand production capacity and to develop a data-driven manufacturing system.

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Frasers Centrepoint Trust

Frasers Centrepoint Trust's distribution per unit rose by 28.4 per cent to 5.996 cents for its half year ended March 31, from 4.67 cents last year.

Gross revenue was up 73.8 per cent to $173.6 million, from $99.9 million the previous year.

The half-year performance was boosted by the enlarged retail portfolio post acquisition of AsiaRetail Fund.

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Parkway Life Reit

Parkway Life Real Estate Investment Trust (Parkway Life Reit) yesterday posted a 7.4 per cent rise in distribution per unit (DPU) to 3.57 cents for its first quarter ended March 31, from 3.32 cents the year before. On an annualised basis, DPU was 14.28 cents, up 7.4 per cent from 13.28 cents the previous year.

Gross revenue was up 0.4 per cent to $30 million, from $29.9 million the year prior. This was mainly due to rent contributions from a nursing home acquired in December 2020, as well as higher rent from Singapore properties.

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