Home Stock list Filipino billionaire Andrew Tan’s Emperador to expand investor base with secondary listing on SGX

Filipino billionaire Andrew Tan’s Emperador to expand investor base with secondary listing on SGX

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Emperador, controlled by billionaire Andrew Tan, will begin trading tomorrow on the Singapore Stock Exchange as the Philippine liquor giant seeks to broaden its investor base and fund its international expansion plans.

“Emperador’s secondary listing on the SGX is a key step in developing our business as an international brandy and whiskey company, reflecting our global reach and the strength of our world-class brand portfolio,” Winston Co , group chairman and CEO of Emperador, said in a statement ahead of the listing. “This will expand opportunities for investor participation in Singapore and beyond as we continue to invest in our ambitious international expansion.”

With a market capitalization of 280 billion pesos ($5 billion), Emperador shares fell from their peak of 24.30 pesos in February as the company reported stable first-quarter net profit growth after jumped 25% to 10 billion pesos in 2021. Analysts believe the secondary listing in Singapore will boost the stock’s appeal to international investors. “There could be a better appreciation of its international whiskey business there,” said April Lee-Tan, chief equity strategist at Philippine brokerage COL Financial.

The secondary listing is jointly managed by UBS AG and JPMorgan, whose mandate is to explore ways to increase the stock’s trading liquidity. “Emperador is truly an international company,” said Joey Roxas, president of Philippine brokerage Eagle equities. “It will benefit from its listing on an international stock exchange. Its whiskey products are known worldwide.

Founded in 1979, Emperador was tycoon Andrew Tan’s first venture before moving into real estate. Over the past decade, the company has grown to become the largest liquor manufacturer in the Philippines with the acquisition of Whyte & Mackay, the world’s fifth largest producer of Scotch whiskey by volume, in 2014, and the Spanish Bodegas Fundador, the world’s leading manufacturer of brandy. the next year.

Emperador is a subsidiary of Tan’s holding company, Alliance Global, which earmarked 60 billion pesos this year to expand its business in real estate, alcoholic beverages and the fast-food chain. Tan chairs Alliance Global, Emperador and Megaworld, which has built a portfolio of residential condominiums, offices, hotels, shopping malls and townships across the Philippines over the past three decades. With a net worth of $2.6 billion, Tan ranked No. 8 when the Philippines’ 50 richest list was last released in September.