EMPERADOR, Inc. has increased its public float to 20.1% from the 15.7% level reflected at the end of September 2022, which the company attributed to a greater demand caused by its dual listing.
“The increase in float reflects the robust investor appetite for Emperador stock and should improve liquidity of the shares,” the company said in a press release on Tuesday.
Luis A. Limlingan, head of sales of Regina Capital Development Corp. said that the increase in the public float of Emperador was necessary to remain in the main index. “The higher float is a sign of increased market interest after it is listed in Singapore,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
However, the PSE increased the public float requirement to 20% which will be required this month, as stated in a memorandum posted by the bourse operator in August last year.
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