STGT Jumps 5.6% after Reporting a Jumping Profit, ฿1.25 Div. and SGX-Listing Expectation

Sri Trang Gloves (Thailand) Public Company Limited (STGT) has announced its Board of Directors resolution to offer a dividend from the company’s net profit and retained earnings at a rate of THB 1.25 per share.

 

The Boards also approved a proposal for a secondary listing of the company by way of introduction on the Mainboard of the Singapore Exchange Limited (SGX) (Proposed Listing), citing that there will be no issuance and offering of new shares on SGX. The Proposed Listing is expected to expand and diversify the shareholder base of STGT, provide an additional channel for the Company to raise funds in the future, and increase the company’s profile and visibility in the region.

STGT reported a net profit of 4,401 million baht in 3Q20, increased tremendously by 3,464% compared to the same period of last year. The increase was due to higher demand for rubber gloves amid the coronavirus outbreak.