Emperador Inc. (PSE: EMI) – the leading global manufacturer, bottler and distributor of brandy, Scotch whisky and other alcoholic beverages– today announced that it expects the conditions set out in the eligibility-to-list letter (“ETL”) from the SGX-ST to be satisfied and its shares (the “Shares”) to be listed and commence trading on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on July 14, 2022 (Singapore Time) under the stock code “EMI”. The outstanding ETL conditions include, among others, the release of an SGXNET announcement disclosing the latest share price of the Company on the Philippine Stock Exchange (the “PSE”) and the Singapore dollar equivalent prior to the listing of the Company on SGX-ST.
On April 13, 2022, the Company announced that it received the ETL from the SGX-ST with regard to its proposed secondary listing of its Shares by way of introduction on the Main Board of the SGX-ST (the “Proposed Secondary Listing”). Please also refer to the disclosures made to the PSE on June 21, 2022 for further information on the Proposed Secondary Listing.
Mr. Winston Co, Group President and CEO of Emperador Inc. said, “The Secondary Listing of Emperador on the SGX is a key milestone in the development of our business as a leading international brandy and whisky company, reflecting our global reach and the strength of our world-class portfolio of brands. This will expand opportunities for participation by investors in Singapore and beyond as we continue to invest in our ambitious international expansion.”
At this time, the Company neither seeks to commence any fund-raising activity nor make a public offering of its Shares in Singapore or elsewhere, in relation to the contemplated secondary listing in SGX-ST. Upon listing on the SGX-ST, the Company will continue to 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. Following PSE’s approval, the stock symbol of the Company has been changed to “EMI” on the PSE. Please refer to the section titled “Clearance and Settlement” of the introductory document dated 20 June 2022 (the “Introductory Document”) issued by the Company for further details on clearance and settlement of the Shares on the SGX-ST.
J.P. Morgan (S.E.A.) Limited and UBS AG, Singapore Branch are acting as joint managers for the Proposed Secondary Listing.
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.