THE liquor company of retail magnate Lucio Co, The Keepers Holdings, raised P4.5 billion in a follow-on offering.
The distributor of imported spirits is focused on the “premium niche” with brands such as Johnny Walker, Chivas Regal and Jose Cuervo, among others.
The country’s leading distributor of imported liquor sold 3 billion common shares at an offer price of P1.50 per share and officially listed its new shares on the main board of the Philippine Stock Exchange on Friday, Nov. 19. Shares in Keepers closed at P1.69 apiece on Friday.
Keepers has a 74 percent market share based on the volume of imported spirits distributed in the Philippines.
The maximum allowable subscription amount for local small investors had been increased to P1 million from P100,000 for this offering.