Emperador Inc., the country’s leading liquor firm owned by tycoon Andrew Tan, said Wednesday it obtained the board approval for the planned secondary listing in the Singapore Stock Exchange.
Emperador said in a disclosure to the stock exchange the secondary listing in SGX was expected raise the international profile of the company, which owns several well-known international brands.
The company will maintain its primary listing in the Philippine Stock Exchange and the stock is anticipated to trade in both exchanges concurrently, subject to obtaining the necessary regulatory approvals.
“We believe that SGX, one of the most developed exchanges in Asia, is the appropriate secondary exchange to raise the international profile of Emperador,” Emperador chairman and founder Andrew Tan said.
“We are very excited at the prospect of becoming the first ever PSE-primary listed company to conduct a secondary Listing in the SGX and are optimistic that our secondary Listing will serve as a catalyst to enhance the strategic collaboration between the PSE and the SGX,” Tan said.