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Emperador to list in Singapore on July 14

Iris Gonzales - The Philippine Star
Emperador to list in Singapore on July 14
It announced yesterday that it expects to be listed and commence trading on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on July 14.
Emperador / Released

MANILA, Philippines — Andrew Tan-led Emperador Inc., manufacturer and distributor of brandy, Scotch whisky and other alcoholic beverages, has moved a step closer to its planned listing on the Singapore Exchange.

It announced yesterday that it expects to be listed and commence trading on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on July 14.

Emperador said it expects to satisfy the conditions set out in the eligibility-to-list (ETL) letter from the SGX-ST. The outstanding conditions include the release of an SGXNET announcement disclosing the latest share price of the company on the Philippine Stock Exchange (PSE) and the Singapore dollar equivalent prior to the listing of the company on SGX-ST.

Winston Co, president and CEO of Emperador, said the secondary listing of Emperador on the SGX is a key milestone in the development of the business as a leading international brandy and whisky company.

“This will expand opportunities for participation by investors in Singapore and beyond as we continue to invest in our ambitious international expansion,” Co said.

Emperador will maintain its primary listing on the PSE and the stock is anticipated to trade on both exchanges concurrently, making it the first PSE-primary listed company to conduct a secondary listing on the SGX-ST.

Investment banks have been mandated to explore ways to introduce liquidity to the proposed secondary listing, subject to market conditions and satisfaction of the ETL conditions.

The trading of Emperador’s shares on the SGX-ST is subject to a STT of 0.6 percent 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 Bureau of Internal Revenue may result in a breach of law.

Emperador owns subsidiaries operating an integrated business of manufacturing, bottling, and distributing distilled spirits and other alcoholic beverages from the Philippines, Scotland, Spain, and Mexico.

It is a subsidiary of Alliance Global Group Inc., which has diversified investments in real estate development, food and beverage, quick-service restaurants, and tourism-entertainment and gaming businesses.

Emperador’s whisky and brandy products are distributed in over 100 countries. Its single malt brands include The Dalmore, Jura, Fettercairn, and Tamnavulin.

EMPERADOR

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