Emperador Inc, a Philippines-based manufacturer, bottler and distributor of brandy, Scotch whisky and other alcoholic beverages, will start its secondary listing on the Singapore Exchange on July 14.
The company, founded in the Philippines back in 1979, had on April 13 received its eligibility to list on the SGX.
It is a 84.57%-held subsidiary of Philippines conglomerate Alliance Global Group, which has interests in real estate, food and beverage, quick-service restaurants, and tourism-entertainment and gaming.
This will make Emperador the first Philippine Stock Exchange-listed company to have a secondary listing here on the SGX.
For FY2021 ended Dec 2021, the company reported revenue of 55.9 billion pesos ($1.4 billion), up 5.9% over FY2020.
Net profit to owners, normalised, as defined by the company, was up 33.6% y-o-y to 10.6 billion pesos; net profit to owners was up 25.2% to 9.97 billion pesos, thanks to an improved product mix that gave better margins.
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Group president and CEO Winston Co calls the secondary listing on SGX a “key milestone” of its business.
“This will expand opportunities for participation by investors in Singapore and beyond as we continue to invest in our ambitious international expansion,” he adds.
The listing’s joint managers are UBS and JP Morgan.
Emperador has a portfolio of brands such as The Dalmore, Jura, Fettercairn, and Tamnavulin held under Scotland-based Whyte & Mackay, which was acquired Emperador.
It also owns Bodegas Fundador, Spain’s biggest and oldest brandy maker with brands such as Fundador, Terry Centenario, Harveys Bristol Cream.
Emperador says that trading of its shares on SGX is subjected to a stock transaction tax equivalent to 0.6% of the gross selling price or gross value in money of the shares sold.
"STT is a final tax due on and payable by the seller of the shares, and is required to be collected by and paid to the Philippine tax authorities by the selling stockbroker on behalf of the seller."
"Failure by shareholders or Singapore brokers to pay or to remit STT payable to the Philippines Bureau of Internal Revenue may result in a breach of law and/or contract," says Emperador.
