Emperador Inc., the world’s largest brandy producer, successfully listed on Singapore Exchange Securities Trading Limited (SGX-ST) on Thursday as it continues to pursue international expansion.
Emperador, which is already listed on the Philippine Stock Exchange, did not raise proceeds from the secondary listing. But the listing will enable it to attract foreign investors who do not trade on the local bourse.
“The secondary listing of Emperador on the SGX-ST today marks the start of the next chapter in our growth. Our global business continues to deliver sustained growth and we aim to generate 50 percent of our sales from outside the Philippines by 2025,” said Bryan Donaghey, Emperador head of whisky business and chief executive of Whyte & Mackay,
“This secondary listing leverages Singapore’s position as a global financial hub and will ensure we are well-positioned to broaden our access to the international investment community in the future,” he said.
SGX Group head of Global Sales & Origination,Pol de Win welcomed Emperador’s listing on the main board of SGX-ST, the first PSE-listed company to hold a secondary listing.
“The company’s strategic investments in building a global portfolio further its growth strategy in both mature and emerging markets. SGX Group’s international platform provides an excellent springboard for Emperador to further raise its profile and capture new growth opportunities,” he said.
Emperador is a leading global spirits player with established presence in the United Kingdom, Spain, Mexico and the Philippines. It has footprint in over 100 countries.
Its portfolio includes whisky brands such as The Dalmore and Jura, and it also sells brandy under the Fundador and Emperador brands.
The liquor maker this year earmarked P3 billion in capital expenditures, up 70 percent from P1.74 billion spent in 2021, mainly to support international expansion.
Emperador registered a net income attributable to equity holders of P2.1 billion in the first quarter, slightly higher than P2.08 billion year-on-year, despite challenges posed by global logistics lockdowns attributed to Omicron across international markets. Revenues grew two percent year-on-year to P12.3 billion.
Emperador shares rose 3.9 percent on Thursday to P18.10.