Philippine-based liquor firm to join SGX main board on 14 July
It will be the first Philippine-listed company to hold a secondary listing on SGX.
Philippine-based liquor firm Emperador Inc. said its proposed secondary listing on the mainboard of the Singapore Exchange (SGX) is expected on 14 July, the first Philippine-primary listed company to conduct a secondary listing in the Lion City’s bourse.
In a statement, Emperador said it expects to comply with the conditions set out in the eligibility-to-list letter, which outstanding conditions include the release of an SGXNET announcement disclosing its latest share price on its main listing at the Philippine Stock Exchange (PSE) and its Singaporean dollar equivalent before the listing at the SGX.
“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,” Group President and CEO Winston Co said.
“This will expand opportunities for participation by investors in Singapore and beyond as we continue to invest in our ambitious international expansion,” he added.
Emperador, which will trade under the stock name “EMI,” said that it is not planning to start any fund-raising activity or a public offering of its shares in Singapore or elsewhere in line with the secondary listing.
The company said that it will continue its primary listing on the PSE, with its stock expected to trade on both exchanges concurrently.
Investment banks were tasked to explore ways to introduce liquidity on the proposed secondary listing, subject to market conditions and satisfaction of the ETL conditions, Emperador said.