Imported spirits distributor files for P7.5-B follow-on offering

Major imported spirits distributor The Keepers Holdings Inc. — which carries the brands Alfonso, Johnnie Walker, Jose Cuervo, Jim Beam, and Jinro — is set to generate up to P7.5 billion from its planned follow-on offering.

In an emailed statement, The Keepers said it has filed a registration statement with the Securities and Exchange Commission (SEC) for the issuance of up to 3 billion common shares priced from P2.00 to P2.50 apiece.

The company will use the net proceeds for strategic acquisition opportunities, expansion of product portfolio and distribution network channels, investments in distribution and logistics network, working capital, and general corporate purposes.

Up to 600 million shares will be offered in the Philippines through PSE trading participants, up to 150 million to local small investors, and at least 2.250 billion to certain qualified buyers and other investors by the joint lead underwriters.

“We are excited by the opportunity to bring our company to the investing public,” said The Keepers President Jose Paulino Santamaria.

“This is like an IPO because we are actually introducing a new business, one that is rife with huge potential. Keepers is poised to become the only pure play, imported spirits distribution listed company in the Philippines,” he added.

The Keepers, formerly Da Vinci Capital Holdings Inc., consolidates the liquor, wine, and specialty beverage distribution businesses of billionaire Lucio Co.

The company owns and operates Montosco Inc., Meritus Prime Distributions Inc., and Premier Wine and Spirits Inc.

“The Keepers Holdings Inc. is now the largest distributor of imported spirits in the Philippines holding 74% volume market share,” said Santamaria.

The company tapped China Bank Capital Corp., PNB Capital and Investment Corp., and SB Capital Investment Corp. as joint issue managers, joint lead underwriters, and joint bookrunners.

Trading of shares in the company has been suspended since July 7, when they closed at P2.95 apiece. -MDM, GMA News