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Property tycoon cements control of Emperador backdoor listing vehicle



MANILA, Philippines–The group of tycoon Andrew Tan has cemented control of TrillionStars Holdings Inc. (TSI), the backdoor listing vehicle for liquor unit Emperador, by acquiring additional shares that will allow flagship holding firm Alliance Global Group Inc. to control 87.55 percent.

In a disclosure to the Philippine Stock Exchange, AGI said it had agreed to purchase 1.43 billion additional shares in TSI – to be renamed Emperador Inc. – from the previous majority owner Shiok Success International Ltd. and Dew Dreams International Ltd. The additional shares bought were equivalent to 9.5 percent of TSI’s outstanding shares.

TSI earlier acquired 90 percent control of TSI with its subscription of 13.5 billion shares while Shiok’s stake was reduced to 4.95 percent from 54.48 percent. But as TSI last week placed out 12 percent of shares to institutional investors, all shareholders were diluted accordingly.

But after the settlement of the offering and the acquisition of Shiok and Dew Dreams’ residual interest by Tuesday (Sept. 25), AGI will own about 87.55 percent of the total issued shares of TSI or the future Emperador Inc. The remainder will comprise TSI’s public float, which is within the 10 percent minimum level required for continuing listing by the PSE.

About 1.8 billion common shares of TSI were sold to the new investors last week at P8.98 per share, raising about P16.2 billion for the company. Proceeds were meant to fund the growth of Emperador, the largest brandy producer in the world.

As of Monday, TSI’s market capitalization has risen to P143 billion, up from P135 billion at the time of the offering.

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Tags: Business , emperador inc. , purchase of shares , trillionstars holdings inc.

  • koolkid_inthehouse

    Don’t invest on unethical companies that produce alcohol and cigarette

  • koolkid_inthehouse

    They’re making money out dumb donkey Filipinos. Keep these dumb donkey Filipinos drunk and screw them.

  • OFW_Investor

    The number of shares of existing shareholders will remain the same. What will change is the percentage of ownership. i.e , if there are 10 Outstanding shares, and an Investor owns 1 share, he then owns 10% . If the Shares were increased to 100 to accomodate the new Investor, then the existing investor 1 share will now be equivalent to 1% of the newly expanded shares of the company. The Investor is diluted from 10% to 1%, but his number of shares remains the same.

  • instantlywithyou

    But as TSI last week placed out 12 percent of shares to institutional investors, all shareholders were diluted accordingly.

    “all shareholders were diluted accordingly.”

    Paano ang shares ng shareholder?

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