Conglomerate Alliance Global Group, Inc., injected its spirits subsidiary Emperador Distillers into recently acquired Touch Solutions.

A total of 1.8 billion shares will be sold at an indicative price range of P8.96-P11.74, representing a 2014 P/E of 19.1-25.0, said IFR, a unit of Thomson Reuters. The shares to be sold represent 12% of the company’s equity capital.

Macquarie Capital is sole global coordinator on the sale. Most of the funds from the sale will be invested back into the company. There is a lockup of 180 days on the vendor.

Emperador is one of Philippines’ largest makers of spirits, with first-half 2013 revenue of P13.86 billion, accounting for 39% of Alliance Global’s net income for the period.

Alliance Global’s other interests include listed property development under Megaworld Corp., and entertainment/casino development under Travellers International Hotel Group, Inc., which also plans to go public.

The conglomerate’s current paid-up capital stands at $6 billion.

Yesterday, shares of Alliance Global lost 1.47% to close P26.80 apiece from P27.20 on Monday, while those of Touch Solutions gained 3.38% to end P11.90 each from P10.98 last Aug. 28. — main report by Reuters