Emperador gets conditional approval for SGX listing

MANILA, Philippines — Andrew Tan-led Emperador Inc. has obtained from the Singapore Exchange (SGX) the conditional eligibility for the liquor company’s proposed secondary listing by way of introduction in Singapore.

Emperador CEO Winston Co said the company has been working with the SGX over the past several months to achieve this significant milestone.

“We believe that the eligibility to list (ETL) is an affirmation of Emperador’s DNA as a truly global company, given our leading positions in brandy and whisky and established footprint in over 100 countries. Furthermore, we believe that our entry into the SGX should pave the way for other Philippine companies with a global reach to list in the SGX, providing greater access to international investors,” Co said.

Emperador said the ETL is not to be taken as an indication of the merits of the secondary listing, the company or its subsidiaries, or the shares of the company.

The ETL is subject to fulfillment of certain conditions, including the submission of certain confirmations and undertakings by the company to the SGX.

The receipt of the ETL is one of the requirements, which has to be met in order for the company to proceed with the secondary listing.

While planning to do a secondary listing by way of introduction, Emperador will maintain its primary listing on the Philippine Stock Exchange with the stock anticipated to trade in both exchanges concurrently, subject to regulatory approvals.

At present, Emperador is in over 100 countries and leading market positions in brandy and whisky.

In 2020, the International Wines and Spirits Research named Emperador as the largest brandy producer in the world while Nielsen said Emperador is one of the largest overall spirits producers in the Philippines.

It is also the fifth largest Scotch whisky manufacturer in the world based on total Scotch production capacity in 2020, according to the Scotch Whisky Industry Review.

Emparador is behind Fundador Spanish Brandy de Jerez and Whyte & Mackay, the world’s fifth largest Scotch whisky producer.