DA VINCI Capital Holdings, Inc. said it will be swinging from a shell company to a fully operating company through liquor distribution businesses, which it described as “easily relatable and relevant.”
“Your company, Da Vinci, continuing the business received from Cosco [Capital, Inc.], will be engaged in the importation, marketing and distribution of wine, spirits and specialty beverages as an industry leader and its biggest player,” said Jose Paulino L. Santamarina, president at Da Vinci Capital.
The listed holding company acquired Montosco, Inc., Meritus Prime Distribution, Inc., and Premier Wine and Spirits, Inc. from Cosco Capital via a swap-share transaction.
It added that the first three brands transferred will not cause conflict among the other names under Da Vinci Capital’s belt.
According to its quarterly report disclosed earlier this month, the company plans to conduct a follow-on offering of its common shares once the transaction with Cosco Capital is completed and after it has been approved by authorities.
The offer will be done to comply with the minimum public ownership requirement of the Philippine Stock Exchange “and at the same time raise additional equity capital to pursue and identify feasible investment opportunities.”
Subject to stockholders’ and regulatory approval, Da Vinci Capital said it will also change its name to The Keepers Holdings, Inc. (KHI).
“KHI is poised to become the only pure alcoholic and non-alcoholic distribution listed company in the Philippines,” the company said.
Shares of Da Vinci Capital at the stock exchange moved up by 2.74% on Monday to close at three pesos each from P2.92. — Keren Concepcion G. Valmonte