Andrew Tan's Emperador Properties Is Set to Become the First Filipino-Owned Company to Go Public in Spain
Filipino Tycoon Andrew Tan's Emperador Properties looks to become the first Filipino-owned company to list on Spain’s BME Growth Stock Exchange by Monday next week. According to the developer, the listing should allow for a more "efficient financing mechanism."
"To be listed in the Spanish Stock Exchange is, for any company, an important milestone,” Emperador Properties CEO Joan Cortés Vilardell said in the statement. “We are looking forward to seeing how Emperador Properties evolves in this new stage.”
Emperador Properties will be offered under the “YEPSA” ticker, previously approved by the concerned regulatory board. The group has two listed real estate investment trust (REIT) assets that have a combined gross leasable area of 86,719 sqm. Two of which are the 57-storey Emperador Castellana in Madrid and the 23-storey Torre Diagonal One in Barcelona. Emperador Properties also owns the Torre Caleido Shopping Center in Madrid. Its assets are said to be worth €1 billion (roughly P59 billion).
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This is Tan's second international corporate debut. In July, he completed a dual listing of Emperador Inc. in Singapore. With it, the liquor maker hopes to drive its whisky and brandy sales in both China and the U.S.
Over the past few years, Tan has doubled down on his group's global expansion. Tan bought the Torre Emperador skyscraper and Bodegas Fundador, the largest and oldest brandy producer in Spain, back in 2015, as well.
Tan's Alliance Global Group Inc., on the other hand, is deeply embedded in the property development, quick service restaurants, and food and beverage manufacturing and distribution industries. Among its many subsidiaries are Emperador Inc., Megaworld Corp., Golden Arches Development Corp., and more.
“We are looking forward to seeing how Emperador Properties evolves in this new stage. Our commitments to our employees, tenants, and partners remain as present as always in our day-to-day life,” Vilardell added.