Dual-listed Emperador Inc. has increased its public float to 20.1% on Dec 20. This is up from the 15.7% reflected at the end of September.
According to the leading global brandy and whisky group, the increase in the float “reflects the robust investor appetite” for shares in Emperador. The increase should also improve the liquidity of the group’s shares.
“This welcome development comes at a time when Emperador shares have seen greater demand as a result of its dual listing on the Singapore Exchange (SGX),” says the group in its statement.
Emperador, on July 2021, first announced that it was mulling the possibility of a second listing in Singapore. The group was already listed on the Philippine Stock Exchange.
The group displaced transport operator ComfortDelGro (CDG) as a constituent on the SGX’s benchmark Straits Times Index (STI) on Sept 1.
As at 2.51pm, shares in Emperador are trading 0.5 cent higher or 1.02% up at 49.5 cents.