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Emperador considering S$1-b Singapore listing

Emperador Inc., a liquor company owned by businessman Andrew Tan, is considering a secondary listing in Singapore that could raise a maximum of S$1 billion (P36.9 billion).

Bloomberg reported that Emperador started engaging financial advisers on the planned listing which could happen before the end of the year.

The company did not immediately respond to requests for comments on the reported plan. Reports said the discussions are at an early stage and that details could change.

The stock price of Emperador rose 1.5 percent Wednesday to close at P12.10. It is one of the biggest gainers among stocks listed in the Philippine Stock Exchange during the pandemic.

Emperador enjoyed brisk sales, thanks to strong international sales. Net income rose 43 percent to P2.1 billion in the first quarter from a year ago.

Revenues also jumped 13 percent to P12.1 billion on strong sales of its brandy and whisky brands in various markets.

Emperador’s global footprint spans over 100 countries, across six continents and a portfolio of iconic and well-diversified brandy and whisky brands.

It owns Emperador Distillers Inc.; United Kingdom-based Whyte and Mackay Group, the fifth largest Scotch whisky manufacturer in the world; Bodegas Fundador S.L.U in Spain, owner of the iconic brand Fundador; and Domecq Bodega Las Copas, S.L which has presence in North and South America.

The group earmarked P1.5 billion in capital expenditures to support global expansion this year.

Emperador is the liquor unit of Tan’s Alliance Global Group Inc. which is also into property development, gaming and resorts and fastfood business.

Emperador said earlier it would increase its 2021 capital spending as it expected the pandemic to ease on the back of the global vaccination program.

Emperador president Winston Co said during the annual stockholders’ meeting the company would raise capital expenditures this year by 50 percent to further expand its global footprint.

“Last year, at the height of the pandemic, we held back on our capital expenditure so we spent around P1 billion. With the vaccinations underway, we expect some easing of pandemic restrictions this year and onwards with increased air travel, and overall, some form of normalcy,” Co said.

“As a global company, we constantly adapt to changing consumer behavior especially in a challenging and difficult environment. Consumers around the world react differently by region or country depending on how liquor is positioned or perceived as either an essential or non-essential product,” he said.

Topics: Emperador Inc. , Andrew Tan , Singapore listing , Bloomberg
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