EMPERADOR, Inc. on Thursday said that its management is looking into listing in Singapore after its “strong operating and financial performance” caught the attention of global institutional investors.
“Emperador, Inc. is on the constant lookout to grow its global presence and a secondary listing in Singapore could be an excellent opportunity to raise the profile of an international company headquartered in the Philippines,” the company clarified in a disclosure to the exchange.
The company issued the clarification after reports citing Bloomberg news agency circulated that Emperador was considering a secondary listing in Singapore, aiming to raise as much as S$1 billion.
It further said Emperador had “leveraged its strong market position in the Philippines,” establishing a global brands portfolio available in over 100 countries across six continents.
“We will submit the required approvals and public disclosures in the appropriate time regarding our efforts in this direction,” Emperador said.
Emperador earmarked P1.5 billion for its capital expenditures this year, 50% higher than last year’s P1-billion budget to cater to the company’s global expansion plans.
Its attributable income to owners went up by 43% in the January-to-March period to P2.1 billion from P1.46 billion year on year, while Emperador’s topline recorded a 13% growth to P12.1 billion from P10.66 billion. The company attributed its “robust performance” to its global business.
On Thursday, shares of Emperador at the local bourse closed unchanged at P12.10 each. — Keren Concepcion G. Valmonte
