Emperador, controlled by Philippine billionaire, will start trading on the Singapore Stock Exchange tomorrow. As the Philippine liquor giant looks to expand its investor base also fund its international expansion plans.
“Emperador’s secondary listing on SGX is an important milestone in the evolution of our business as a leading international brandy also whiskey company. Reflecting our global reach also the strength of our portfolio of world-class brands,” Winston Co. Group President and CEO Director of Emperador said in a statement before listings. “This will expand investor participation opportunities in Singapore also beyond as we continue to invest in our ambitious international expansion.”
With a market capital of 280 billion pesos ($5 billion). Philippines-listed Emperador shares fell from a high of 24.30 pesos per share in February. As the company reported steady first-quarter net profit growth, after rising 25% to 10 billion pesos in February. 2021. Analysts believe a secondary listing in Singapore will increase the stock’s attractiveness to international investors. “The international whiskey business could be judge better there,” said April Lee-Tan, head of the equity strategy at Philippine brokerage firm COL Financial.
The secondary listing is jointly manage by UBS AG also JPMorgan. Which has a mandate to seek ways to increase stock trading liquidity. “Emperador is truly an international company,” said Joey Roxas, president of Philippine brokerage firm Eagle Equities. “It will benefit from being list on an international stock exchange. Its whiskey products are known all over the world.