SEC OKs TSI name change to Emperador

MANILA, Philippines - The listing vehicle for the liquor unit of conglomerate Alliance Global Group Inc. (AGI) has secured the corporate regulator’s approval to change its corporate name.

“We received (on Friday) the approval of the Securities and Exchange Commission (SEC) to the amended articles of incorporation and by-laws of the corporation to change the corporate  name from TrillionStars Holdings Inc. to Emperador Inc.,” Emperador said in a disclosure to the stock exchange.

However, the Philippine Stock Exchange (PSE) said the change in corporate name will not yet be reflected on the local bourse’s trading system.

PSE said Emperador has yet to submit a copy of the amended articles of incorporation approved by the SEC.

Early last month, the liquor unit of AGI bought a majority stake in dormant holding firm TrillionStars, formerly Touch Solutions Inc. (TSI). AGI and several investors subscribed to an aggregate of up to 15 billion shares of TSI.

It became the backdoor listing vehicle for the world’s top brandy maker Emperador Distillers Inc.

Emperador is raising P16.2 billion through the sale of 1.8 billion common shares at P8.98 apiece, proceeds of which will finance its expansion program.

TSI was previously controlled by Shiok Success International Ltd., a wholly-owned company of Singapore-based Capilion Corp. Pte. Ltd. that planned to manage and operate its Philippine businesses through TSI.

Emperador, for its part, is the fifth listed firm of property tycoon Andrew Tan. Flagship investment firm AGI and property developers Megaworld Corp., Suntrust Home Developers Inc. and Empire East Land Holdings Inc. are already public companies.

Early last month, Emperador committed to invest P5.8 billion in Spain as part of its plan to become a significant global brand. It earlier acquired 100 percent of Spanish brandy maker Bodega San Bruno, including the San Bruno trademark that has been registered since 1942.

Emperador targets to double its sales volume in the next five years as it intends to corner a third of the global brandy market. The liquor maker sold 31 million cases of brandy last year.