Top Glove Corporation Bhd. (KLSE:TOPGLOV) said on September 17, 2021 it will renew its listing application to push ahead with its plans to raise $1 billion in Hong Kong despite a 48% slide in its quarterly earnings. The company has been seeking a dual primary listing on the Hong Kong Stock Exchange since last year, but the deal was put on hold after it was slapped with an import ban from U.S. authorities. It already has a primary listing in Malaysia and a secondary listing in Singapore. The year-long ban was imposed on Top Glove for alleged forced labour abuses and was lifted last week. It stalled the company's listing plans and hurt sales, particularly to the United States, which normally accounts for 15% of the group's total sales. A source with direct knowledge of the matter said the ban removal was important and the deal would now be able to be marketed more broadly for a wider set of investors. The source could not be identified as the information had not been made public. Top Glove is aiming to raise $1 billion in the Hong Kong listing and will likely appoint more bankers in the future, the source said, adding it was set on completing the IPO as soon as possible. Top Glove did not address questions about the listing during a briefing on the quarterly results, which showed a 48% drop in the company's fourth-quarter earnings.