INQUIRER.net: Global acquires way for backdoor listing of Emperador

INQUIRER.net Philippine News for Filipinos

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Global acquires way for backdoor listing of Emperador Aug 29th 2013, 03:34 MANILA—Andrew Tan's Alliance Global Group Inc. has taken control of Touch Solutions Inc. as a backdoor listing entry for liquor unit Emperador Distillers Inc.   In a disclosure to the Philippine Stock Exchange on Thursday, AGI said it had struck an agreement to subscribe to up to 15 billion shares of TSI at par value to be issued out of the proposed increase in the authorized capital stock of TSI.   As part of the transaction, AGI will transfer, and TSI will receive, shares of EDI. The company's bylaws will be amended to change the corporate name to Emperador Inc.   In a separate disclosure, TSI said its seven directors had resigned. In their plac... Keep on reading: Global acquires way for backdoor listing of Emperador Media files: andrew-tan.jpg (image/jpeg)

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