EMPERADOR, Inc. It announced on Wednesday that it had received a conditional eligibility list (ETL) from Singapore Exchange Securities Trading Limited (SGX-ST) for a proposed secondary listing on the Singapore Board’s main board.
“We believe that ETL is a confirmation of Emperador’s DNA as a truly global company, our top position in brandy and whiskey and a footprint in more than 100 countries,” said Winston S., Emperador CEO. Co says 6
“Also, we believe that our access to SGX should pave the way for other Philippine companies to be listed on SGX, which would give more access to international investors,” he added.
Mr Co said the Singapore Exchange had been working with the company for the past few months to reach “significant milestones”.
ETL is subject to certain conditions, including confirmation and commitment by the company to SGX-ST, the receipt of ETL is one of the requirements for proceeding with the secondary listing.
Emperador said, however, that ETL would not be taken as an indication of the eligibility of the secondary listing, the company or its affiliates or its shares.
“Secondary listings, among other things, are subject to existing market conditions. The company’s board of directors will consider the market situation, investor feedback and any other relevant issues to consider the appropriate time to proceed with the secondary listing, “the company said.
Emperador was incorporated into the Philippines and registered with the Securities and Exchange Commission in 2001. It serves as a global conglomerate holding company in the distilled spirits and other alcoholic beverages business.
In March, the emperor announced that his emperor brandy was available at The Original Barracuda, the largest liquor store in the UAE.
It is owned by Fundador, Spain’s oldest and largest brandy and sherry maker, and Whyte & Mackay, the fifth-largest whiskey maker worldwide.
In the third quarter of 2021, its attributable net income fell 14.4% to P2.18 billion.
From January to September last year, attributable net income increased 23.7% to P7.26 billion.
On the stock exchange on Wednesday, Emperador shares rose 21.97% or P3.08 to close at P17.10. – Luisa Maria Jacinta c. Jackson