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 Chief Executive Officer Vikorn Poovapat said that with more than 20 years of business experience, FTI understands consumer needs and pain points, and therefore has designed, supplied, and developed a variety of products at a reasonable price suitable for each target category and group. FTI has developed distributors under the concept of "Water Store" to be its own brand's selling points in accordance with its growth commitment. The bulk of proceeds will be utilized to expand distributor shops carrying FTI's Aquatek brand to 50 branches in 2024 to directly reach consumers to tap the promising retail market of water purifiers.
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.
For more information, please see the company's prospectus at the Securities and Exchange Commission (SEC)'s website at www.sec.or.th; and for general information, please visit www.functioninter.co.th and www.set.or.th.
Source: SET Corporate Communications