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 TOPGLOV 7113 TOP GLOVE CORPORATION BHD chairman buys more shares as stock slides further

KUALA LUMPUR (June 3): Top Glove Corp Bhd executive chairman Tan Sri Lim Wee Chai is mopping up more shares in the the rubber glove manufacturer, whose share price skid to its lowest in two-and-half years.

According to Top Glove's shareholding change updates filed with Bursa Malaysia on Friday (June 3), Lim on Friday raised his direct stake in Top Glove to 27.461% after acquiring 1.5 million shares at RM1.24 each — or RM1.87 million in total.

He also holds an indirect 8.495% stake in the company.

The latest acquisition came after Lim bought one million shares in the company at RM1.27 on Thursday (June 2), which cost him RM1.27 million.

The tycoon already spent RM14.66 million last month buying 9.5 million Top Glove shares, priced between RM1.36 and RM1.62 per share.

Top Glove’s share price closed down two sen or 1.59% lower at RM1.24 on Friday — its lowest since Dec 9, 2019 — which pulled the group's market value down to RM9.93 billion.

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