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SET welcomes water treatment system operator “FTI”
The Stock Exchange of Thailand (SET) will list Function International pcl, a one-stop water purifier and water system operator, on May 19, under the ticker symbol “FTI”. The company has a market capitalization at its initial public offering (IPO) of THB 1.13 billion (approx. USD 32.4 million).
SET Senior Executive Vice President Manpong Senanarong said that FTI would list
and start trading on SET in the Consumer Products industry group, Home & Office
Products sector.
FTI imports, assembles, and distributes end-to-end water treatment system including water purifiers and accessories, filters, filtering chemicals and other products related to water treatment, as well as providing related services. FTI’s product line covers all groups of users, ranging from household, commercial, and industrial groups, under FTI’s 23 own and international brands categorized into premium, medium, and economy price range to serve customer demands on functions and prices. Besides, FTI is a wholesaler with more than 600 shops and distributors.
FTI has a registered paid-up capital of THB 450 million, consisting of 320 million existing common shares and 130 million newly issued shares, with a par value of THB 1 each. It offered the newly issued shares to the general public during May 11 – 13, 2022 at THB 2.50 each, for a total of THB 325 million. Phillip Securities (Thailand) pcl is its financial advisor and lead underwriter.
FTI’s largest shareholder after IPO is Vikorn Poovapat’s and Voraya Poovapat’s group (71.11 percent).
The company’s dividend policy is to pay no less than 40 percent of net profit after corporate income tax and legal reserves. The payment is also subject to financial status, investment plan and other factors so as to create optimum benefit to shareholders.
SET News :SET welcomes water treatment system operator “FTI” on May 19
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