Emperador, the Philippines’ biggest liquor company, is exploring a second listing in Singapore that could raise as much as $1 billion, people with knowledge of the matter said.
The Manila-listed company is working with advisers on the potential offering, said the people, who asked not to be identified as the process is private. A listing in the city-state could take place as soon as the end of this year, the people said.
Emperador could be joining companies like Malaysia’s Top Glove Corp, Hongkong Land Holdings and Japanese real estate firm Tosei Corp in having a second listing in Singapore. Any deal would give a boost to the first-time share sales in the city-state, which hosted only three deals totaling US$242 million ($325.6 million) so far this year, according to data compiled by Bloomberg. Second listings accounted for about 27% of total market capitalization in the country’s bourse in May, Singapore Exchange data show.