Emperador to debut on PSEi Sept. 15

By: Doris C. Dumlao - 10 years ago

Screengrab from www.emperadorbrandy.com

MANILA, Philippines—Tycoon Andrew Tan-led Emperador Inc. is debuting on the local stock barometer Philippine Stock Exchange index (PSEi) effective September 15, dislodging Philex Mining Corp.

PSEi is the roster of the country’s most liquid, largest stocks in market capitalization and most closely watched stocks.

The recomposition of the PSEi was as a result of a review conducted from July 2013 to July 2014, the local bourse said in a memorandum on Wednesday.

To qualify to the PSEi, a company must have a free float of at least 12 percent, must be among top 25 percent by median daily value for at least nine out of 12 months and must be among the top 30 based on full market capitalization.

As of Thursday, Emperador had a market capitalization of P164.7 billion versus Philex Mining’s P56.8 billion.

Emperador, led by the group of tycoon Andrew Tan, has gained a lot of interest recently as the liquor firm gained domestic market share while also mapping out an offshore expansion program. It recently outbid a number of global consumer powerhouses to bag a deal to take over iconic Scottish scotch whisky-maker Whyte &Mackay for 430 million British pounds (P31.7 billion).