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Health Care

Top Thai medical gloves maker files IPO as pandemic spurs demand

Sri Trang Gloves aims to ramp up production capacity

Sri Trang Gloves is aiming to be among the world's top three producers of rubber gloves over the next few years, challenging the world's biggest producer, Malaysia-based Top Gloves.   © Reuters

BANGKOK -- Sri Trang Gloves Thailand, the country's biggest producer of medical gloves, has filed for an initial public offering on the Stock Exchange of Thailand to raise funds to increase production capacity, with the company seeing substantially increased demand for its products as a result of the new coronavirus pandemic.

"Glove demand tends to rise globally in line with the [growth of the] medical sector, and the coronavirus pandemic has also pushed demand much higher," said Jarinya Jirojkul, chief executive of Sri Trang Gloves. "That has encouraged our company to raise funds from the Stock Exchange of Thailand for the expansion."

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