mai welcomes food additive supplier NTSC on Feb 9

mai President Prapan Charoenprawatt said NTSC will be listed and start trading on mai in the Agro & Food Industry industry group.

NTSC imports, produces and distributes food ingredients, condiments, flavorings, nutritional supplements and seasonings for human food that its customers use for their food preparation. Nuevotec Co., Ltd., NTSC's wholly-owned subsidiary, imports, manufactures and distributes animal feed additives. Samphran district of Nakhon Pathom province (west of Bangkok) is home to NTSC group of companies' factories and the 9,201-square meter warehouses. The group imports products from more than 100 quality sources across the world to supply to diverse customers locally including manufactures of food, processed food, seasonings, dietary supplements, beverages, and business operators engaged in medicine, herbal product, cosmetic and animal feed industries. Imported products account for more than 90 percent of all sales. In the first nine months of 2022, sales of additives for human food and animal feed generated 90 percent and 10 percent of total revenue respectively.

NTSC has a paid-up capital of THB 50 million, consisting of 75 million existing common shares and 25 million newly issued shares, with a par value of THB 0.50 each. It offered 18.75 million newly issued shares to persons at the underwriters' discretion, 3.75 million shares to its patrons and 2.5 million shares to the company's directors, executives and employees during February 1-3, 2023, at THB 26.25 each, for a total of THB 656.25 million in fund raised. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 29.8 times. The earning per share is equal to THB 0.88, which was calculated from the company's net profit of 88.2 million over the past four quarters (from October 1, 2021, to September 30, 2022), divided by fully diluted shares. KGI Securities (Thailand) pcl is the financial advisor and the lead underwriter.

NTSC Chief Executive Officer Pat Ekpanyaskun said the company is determined to deliver quality, efficient, safety and value products by creating innovations. The company has cashed in on over 40-year experience, and science and food knowledge to serve customer needs and requirements. The proceeds arising from the fundraising will be used to repay its loans to financial institutions, invest in a project to produce appetite stimulants for pets, buy machinery for its role as an original equipment manufacturer (OEM) and the manufacturing of food preparation products, and as working capital.

NTSC's major shareholder after the IPO is the Ekpanyaskun family (75 percent). The company's dividend policy is to pay at least 40 percent of net profit from its separate financial statement after corporate income tax and all reserves required by laws and its regulations.

For more information on NTSC, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.nutritionsc.co.th and www.set.or.th.