MANILA - Emperador Inc on Thursday confirmed reports that it is considering listing in Singapore.
The liquor unit of billionaire Andrew Tan's business empire disclosed to the local stock exchange that its management "is evaluating a dual listing in Singapore."
"Emperador Inc. has leveraged its strong market position in the Philippines to establish a global brands portfolio of brandy and whisky that are available in over 100 countries," the company said.
Emperador, which makes the Emperador Brandy, Fundador Spanish Brandy de Jerez, and Tres Cepas said its strong operating and financial performance delivered "has been noticed by global institutional investors focused in the spirits segment."
The company's said its earnings last year grew 18 percent to P8 billion, as the pandemic pushed sales higher.
Earlier, it also disclosed that its first quarter net income was up 43 percent at P2.1 billion on strong international performance.
"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 said.
In May, the company also said it was raising its capital expenditures by 50 percent to "accelerate global expansion."
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