KUALA LUMPUR, (Reuters) – Top Glove Corp of Malaysia has received shareholders approval to list Hong Kong as a glove manufacturer. It said on Wednesday that it expects to be done by the end of the year.

The company stated that resolutions supporting its primary listing on Hong Kong’s Stock Exchange of Hong Kong were approved by an extraordinary meeting of shareholders. It also added that approval was required from HKEX.

The world’s biggest manufacturer of gloves for medical purposes stated that the proposed listing was expected to be complete by the first quarter 2022.

Top Glove slashed the Hong Kong Listing Fund amount by HK$3.68 Billion ($473 Million) for the second time in October. That’s less than a quarter its original target.

It stated that the company could raise approximately HK$4.24 trillion if it fully exercises its over-allotment option. Top Glove had originally set out to raise $1.9 billion, but in April it almost halved its target.

Top Glove said it was raising capital for business growth, geographic expansion, strategic investments, accretive M&As, automation, facilities and machines upgrades as well as strengthening ESG practices and initiatives.

Its listing plan came after a long-running struggle by Top Glove to overcome an import ban imposed by U.S. Customs for a year. This was in response to allegations of forced labour. A review revealed that Top Glove had addressed every indicator of forced labor and the ban was lifted in September.