EMPERADOR, Inc. on Thursday said that its management is looking into listing in Singapore after its 鈥渟trong operating and financial performance鈥 caught the attention of global institutional investors.
鈥淓mperador, 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,鈥 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 鈥渓everaged its strong market position in the Philippines,鈥 establishing a global brands portfolio available in over 100 countries across six continents.
鈥淲e will submit the required approvals and public disclosures in the appropriate time regarding our efforts in this direction,鈥 Emperador said.
Emperador earmarked P1.5 billion for its capital expenditures this year, 50% higher than last year鈥檚 P1-billion budget to cater to the company鈥檚 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鈥檚 topline recorded a 13% growth to P12.1 billion from P10.66 billion. The company attributed its 鈥渞obust performance鈥 to its global business.
On Thursday, shares of Emperador at the local bourse closed unchanged at P12.10 each. 鈥 Keren Concepcion G. Valmonte
