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Tuesday, April 23, 2024

Emperador to list in Singapore

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The board of Emperador Inc., the liquor arm of businessman Andrew Tan, has approved the company’s plan to list on the Singapore Stock Exchange (SGX).

In its disclosure, Emperador, which has acquired known European distilleries and vineyards, will pursue its secondary listing by way of introduction on SGX later this year.

It will keep its primary listing in the Philippine Stock Exchange and Emperador’s stock will be traded at both the Philippine and Singaporean exchanges.

“We believe that SGX, one of the most developed exchanges in Asia, is the appropriate secondary exchange to raise the international profile of Emperador. We are very excited at the prospect of becoming the first ever PSE-primary listed company to conduct a secondary listing in the SGX and are optimistic that our secondary listing will serve as a catalyst to enhance the strategic collaboration between the PSE and the SGX,” Tan said.

“Over the years, Emperador has established itself as a leading global spirits company with established footprint in over 100 countries and leading market positions in brandy and whisky. We believe that a secondary listing on the SGX will create stronger awareness of Emperador and its world-class brands, as well as increase our stock’s visibility and international investor participation reflective of our global operations and revenue,” Emperador President Winston S. Co said.

Emperador owns United Kingdom-based Whyte and Mackay Group Ltd., the fifth largest Scotch whisky manufacturer in the world; Bodegas Fundador S.L.U in Spain, owner of the iconic Fundador brand; and Domecq Bodega Las Copas, S.L which manufactures Mexican brandies and wines.

As of end-2020, the company’s brandy products held an 86.5-percent market share among all local and imported brandies in the Philippines based on volume according to Nielsen Co.

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 and the fifth largest Scotch whisky manufacturer in the world based on total Scotch production capacity according to the Scotch Whisky Industry Review.

For the first semester, its revenues from brandy grew 10 percent to P16.34 billion, from last year’s P14.9 billion, while revenues from Scotch Whisky rose 35 percent to P8.99 billion from the previous P6.63 billion.

Read full article on BusinessMirror

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