Liquor giant Emperador Inc on Wednesday said its board approved the move to pursue a secondary listing on the main board of the Singapore Stock Exchange(SGX). The Company’s Board of Directors has granted authority to the Company’s Management to deliver all the necessary requirements for a Secondary Listing on the SGX as soon as practicable.
“The Company’s Board of Directors has granted authority to the Company’s Management to deliver all the necessary requirements for a Secondary Listing on the SGX as soon as practicable,” Emperador said in a disclosure to the stock exchange.
Emperador said it would maintain its primary listing in the Philippine Stock Exchange. Stock is anticipated to trade in both exchanges concurrently, it added.
“We believe that SGX, one of the most developed exchanges in Asia, is the appropriate secondary exchange to raise the international profile of Emperador,” chairman and founder Andrew Tan said.
Emperador, which has a footprint in over 100 countries, eyes increased brand awareness, stock’s visibility and international investor participation due to the secondary listing, its president Winston Co said.
Emperador is an integrated, global, leading manufacturer, bottler and distributor of brandy, Scotch whisky and other alcoholic beverages. In 2020, the Company was the largest brandy producer in the world according to the International Wines and Spirits Research, one of the largest overall spirits producers in the Philippines according to the Nielsen Company and the fifth largest Scotch whisky manufacturer in the world based on total Scotch production capacity in 2020 (grain and malt liquids productions only) according to the Scotch Whisky Industry Review.
As of 2020, Emperador the Company’s brandy products held an 86.5% market share among all local and imported brandies in the Philippines based on volume according to Nielsen Company.
Emperador Inc. owns the multi-awarded Fundador Spanish Brandy de Jerez, having recently won the highest Platinum Award bestowed by the San Francisco World Spirits Competition, particularly for Fundador Supremo 18.
Disclosure: Emperador to list in SGX
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