Opinion
Is Lucio Tan considering an IPO for Asia Brewery?
With Philippines based Asia Brewery Inc growing rapidly and profitably, Zinnia B Dela Peña, writing in The Philippine Star, wonders if beer to tobacco to airline tycoon Lucio Tan may be considering a potential initial public offering for the country’s second largest brewery.
Asia Brewery has turned the corner in the last two years, becoming profitable through diversifying its offering – branching out into bottled water and non-alcoholic drinks.
In water, it has found success with Absolute distilled drinking water, Summit Natural Drinking Water and the recently launched Summit Vitaminwater.
Forbes Magazine lists Lucio Tan as the second richest Filipino in the Philippines, with assets worth $2.8 billion.
He set up Asia Brewery in 1982, producing its first beer, Carlsberg, in 1987 through a partnership with Denmark’s Carlsberg International. The following year, Tan launched Asia Brewery’s flagship brand Beer na Beer. Other beer brands now include Lone Star, Colt 45, Stag, Colt Ice, Coors, Lone Star Ice, and Lone Star Ultra, the country’s first low-carb beer.
In soft drinks, Asia Brewery offers Virgin Cola from Virgin Drinks and has teamed up with Cobra International Beverage Holdings Inc to introduce the Philippine version of Cobra Energy Drink – now the country’s leading energy drink.
Among the Tan-owned companies listed on the exchange are Tanduay Holdings Inc, PAL Holdings, MacroAsia Corp, Eton Philippine Properties, Philippine National Bank, and Allied Bank.
A listing on the bourse would give Asia Brewery access to capital to fund growth, so this one to watch.
Source: ABS-CBM News/The Philippine Star
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Bill Bruce is group editorial director of FoodBev Media
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