Alliance Global prices TrillionStars' 1.8-B share sale at P8.98 apiece

Alliance Global Group Inc. on Friday said it priced at P8.98 apiece the 1.8-billion share offering of TrillionStars Holdings Inc. to raise P16.2 billion.

 

The offering is equivalent to 12 percent of the issued shares of TrillionStars, which will eventually be renamed Emperador Inc., Alliance Global noted in a disclosure to the Philippine Stock Exchange.

 

Under a share subscription agreement between Alliance Global and TrillionStars, P11.2 billion from the share sale will go to TrillionStars and further grow Emperador which is now the largest liquor company in the Philippines and the world's largest brandy producer.

 

“The offering attracted strong interest from a wide range of domestic and international investors, 

including high quality institutional investors as well as ultra-high networth investors,” the disclosure read.

 

On Wednesday, TrillionStars announced the share sale. 

 

“We are very pleased to have established a separate listed platform for Emperador and created a strong base of high quality international and domestic shareholders via the offering," Alliance Global noted in the disclosure, citing chairman and CEO Andrew L. Tan, who is also chairman of TrillionStars.

 

"In the recent weeks, we have received strong endorsement from AGI shareholders of how we have built Emperador into the market leader it is today, and I wish to thank AGI shareholders for continuing to put their faith in us by supporting this transaction," he added.

 

Emperador is embarking on an aggressive growth plans, and "the listing and equity raising will put Emperador in a strong position to execute these plans,” Tan noted.

 

At the P8.98 per share, TrillionStars’ market capitalization will be valued at P135 billion – making it one of the Top 20 largest listed companies in the stock in terms of capitalization as of Sept. 19.

 

The settlement date for the offering is Sept. 25.

 

Macquarie Capital (Singapore) Pte. Limited is sole global coordinator, sole bookrunner and lead manager for the offering.

 

In an earlier disclosure, TrillionStars noted an agreement with Alliance Global "… that the investors will subscribe to an aggregate of up to 15 billion shares of the company at par value, to be issued out of the capital increase."

 

Emperador International Ltd., the global liquor arm of Alliance Global, will invest P5.8 billion in Spain over the next 12 months in line with a strategy to grow its brandy brand.

 

Emperador International is now acquiring vineyards and other brandy producers include distilling and bottling plants in Spain. – Danessa Rivera/VS, GMA News