Emperador eyes up to P16.2-B in backdoor listing
MANILA - Philippine conglomerate Alliance Global Group Inc has priced an offering of 1.8 billion common shares in its TrillionStars Holdings Inc unit at P8.98 per share, which may raise up P16.2 billion ($376 million), it said on Friday.
The final offer price is at the low end of an indicative price range of P8.96 to P11.74 that IFR, a Thomson Reuters unit, reported early this week.
The offer price values TSI, which will be renamed Emperador Inc, at about $3 billion, Alliance Global said in a statement. Emperador is the Philippines' largest liquor company and the world's largest brandy producer.
The offered shares account for about 12 percent of TSI.
Alliance Global will use P11.2 billion of the proceeds to fund Emperador's expansion projects.