The Stock Exchange of Thailand (SET) will list Nova Organic pcl, a manufacturer of dietary supplements, on December 24 under the ticker symbol "NV". The company has a market capitalization at its initial public offering (IPO) at THB 4.14 billion (approx. USD 124.16 million).
SET Senior Executive Vice President Manpong Senanarong said that NV would list and start trading on SET in the Consumer Products industry group, Personal Products & Pharmaceuticals sector.
NV manufactures and distributes dietary supplements for health and beauty. The company's popular and well-known products are Livnest, Donutt and Q-Tin which are put on sales through all available channels. The telesales channel that the company has developed is the main sales channel while others include modern outlets and home shopping. The company also provides comprehensive consulting and manufacturing services for dietary supplements. NV's research and development department is capable of creating quality and diversified products continuously.
NV has a registered paid-up capital of THB 300 million, consisting of 450 million existing common shares and 150 million newly issued shares, with a par value of THB 0.50 each. It offered newly issued shares to the public during December 15 - 17, 2021, at THB 6.90 each, for a total of THB 1.04 billion. Capital One Partners Co., Ltd. is the financial advisor and Globlex Securities Co., Ltd. is the lead underwriter.
NV Chief Executive Officer Navaphol Chanjuthamard said NV aims to be a leading manufacturer of dietary supplements for health and beauty in Asia that can enhance good quality of life for all consumers in a sustainable manner. As for the listing on SET, the company plans to invest in the new factory and warehouse, the renovation of the existing factory to manufacture herbal products and extracts, a new office building to accommodate the expansion of telesales which is the company's key strategic channel. In addition, NV will continuously develop and launch new products that will support growth, meet consumers' demand, and make them easily accessible to the diversified and comprehensive distribution channels.
NV's major shareholder after the IPO is the Chanjuthamard family (69.27 percent).
NV's dividend policy is to pay no less than 40 percent of net profit from the company's separate financial statement after tax, and legal and other reserves.
For more information on NV, 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.nova-organic.com , and www.set.or.th.