Da Vinci Capital’s follow-on offer to fund expansion

MANILA, Philippines — Lucio Co-owned Da Vinci Capital Holdings Inc. (DAVIN) is laying the groundwork for further expansion into the high-growth, imported spirits segment.

To fund its expansion, Da Vinci plans to undertake a follow-on offering consisiting of three billion shares.

It has  obtained the green light from the Securities and Exchange Commission (SEC) amend its articles of incorporation  to reflect the change of its corporate name to “The Keepers Holdings Inc.” as well as  the increase in its capital stock to P2 billion.

The move is part of Co’s move to transform DAVIN as his listed company for his liquor business. Cosco Capital Inc., the retail holding firm of Co gained controlling interest in DAVIN via a share-swap arrangement wherein Cosco assigned to DAVIN its shares in Montosco Inc., Meritus Prime Distributions Inc. and Premier Wine and Spirits Inc., the operating companies engaged in the importation, distribution and marketing of Co’s imported alcoholic and non-alcoholic beverages.

“The Keepers is now the largest distributor of imported spirits in the Philippines,” said company president Jose Paulino Santamarina.

It  presently holds 70 to 75 percent of the market in terms of volume, based on a report by IWSR, the global benchmark for beverage alcohol data and intelligence.

“With the new corporate structure, The Keepers can now focus on the business of delivering sustainable, consistent growth,” Santamarina said.

The Philippine Stock Exchange (PSE) suspended  trading in DAVIN  shares effective July 8 after  public ownership  fell to two percent or below the  minimum 10 percent required.