Emperador Inc., a global liquor manufacturer and distributor, expects to list its shares on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) on July 14, 2022.
In a disclosure to the Philippine Stock Exchange, the firm said it expects the conditions set out in the eligibility-to-list letter (ETL) from the SGX-ST to be satisfied and its shares will soon start trading under the stock code “EMI.”
The outstanding ETL conditions include, among others, the release of an SGXNET announcement disclosing the latest share price of the Company on the PSE and the Singapore dollar equivalent prior to the listing of the Company on SGX-ST.
Last April 13, 2022, Emperador announced that it received the ETL from the SGX-ST with regard to its proposed secondary listing of its Shares by way of introduction on the Main Board of the SGX-ST (the Proposed Secondary Listing).
“The Secondary Listing of Emperador on the SGX is a key milestone in the development of our business as a leading international brandy and whisky company, reflecting our global reach and the strength of our world-class portfolio of brands,” said Emperador Group President Winston Co.
He noted that, “This will expand opportunities for participation by investors in Singapore and beyond as we continue to invest in our ambitious international expansion.”
Upon listing on the SGX-ST, Emperador will continue to maintain its primary listing on the PSE and the stock is anticipated to trade on both exchanges concurrently, making it the first PSE-primary listed company to conduct a secondary listing on the SGX-ST.
Following PSE’s approval, the stock symbol of the Company has been changed to “EMI” on the PSE.
UBS AG, Singapore Branch and J.P. Morgan (S.E.A.) Limited are acting as joint managers for the Proposed Secondary Listing.
Investment banks have been mandated to explore ways to introduce liquidity to the Proposed Secondary Listing, subject to market conditions and satisfaction of the ETL conditions.
Emperador is a global whisky and brandy conglomerate with a deep portfolio of globally recognized, market-leading whisky and brandy brands distributed in over 100 countries.
It is the biggest spirits company in the Philippines and the largest brandy company in the world with subsidiaries operating an integrated business of manufacturing, bottling, and distributing distilled spirits and other alcoholic beverages from the Philippines, Scotland, Spain, and Mexico.
To start building a global portfolio, Emperador made international acquisitions such as the fifth largest Scotch whisky producer by capacity in the world, Whyte & Mackay, and the biggest and oldest brandy maker in Spain, Bodegas Fundador.