Billionaire Andrew Tan’s Emperador Inc. landed on the Straits Time Index (STI) less than two months after it debuted on the Singapore Exchange (SGX)—a historic feat achieved by a Philippine company for the first time.
On Friday, the dual-listed liquor company announced that its inclusion in STI would take effect on Sept. 19.
Being part of the STI, a market capitalization-weighted index that tracks the performance of the top 30 companies listed on the SGX, is seen to make Emperador more visible to a larger base of institutional and retail investors.
“It is an honor to be the first and only Philippine company to be part of the STI alongside its reputable roster of global companies. Being a constituent in the benchmark index of Asia’s most international exchange further solidifies Emperador’s status as a global company,” Emperador president Winston Co said.
“Inclusion in the STI is a testament of Emperador’s consistent outstanding performance through the years,” he added.
DBP-Daiwa Capital Markets Philippines Inc. head of equity sales Mark Race, meanwhile, said that joining the STI “says a lot about how investors appreciate the liquor giant’s world-cass products and global presence.”
Emperador is the first Philippine Stock Exchange-listed company to obtain secondary listing on the SGX on July 14.