SET News: SET welcomes cassava processing manufacturer “UBE” on September 30


SET News 72/2021 September 29, 2021 SET Welcomes Cassava Processing Manufacturer “UBE” September 30 BANGKOK, September 29, 2021 – Thailand Stock Exchange (SET) to List Ubon Bio Ethanol pcl, Largest Cassava Processing Manufacturer located in the lower northeast of Thailand on September 30, under the ticker symbol “UBE”. The company has a market capitalization on its initial public offering (IPO) of 9.39 billion THB (approximately $ 280.3 million). SET Senior Executive Vice President Manpong Senanarong said UBE will be listed and start trading on SET in the resource industry group, energy sector and utilities. UBE is Thailand’s leading manufacturer and distributor of fully integrated cassava products, comprising 1) an ethanol business: producing and distributing fuel grade and industrial grade ethanol with a production capacity of 400,000 liters per day; 2) Cassava starch production and distribution activity: cassava starch of food and industrial quality of conventional and organic type under the brand “Ubonsunflower” and produced from cassava flour under the brand “Tasuko”. UBE is one of the few manufacturers and exporters of organic cassava starch in the world certified to international organic standards; and 3) organic farming: growing organic crops such as rice, coffee, among others. UBE aims to become a leader in organic farming alongside the energy sector for sustainable and steady growth. UBE has a registered paid-up capital of THB 3.91 billion. It allocated 1.37 billion ordinary shares via IPO, comprising 1.17 billion newly issued shares and 195.71 million existing ordinary shares offered by Thaioil Ethanol Co., Ltd. and BBGI pcl, with a par value of THB 1.00 each. He offered the newly issued shares to persons at the discretion of the underwriter and to institutional investors, from September 21 to 23 at THB 2.40 each, for a total of THB 2.82 billion. Asia Plus Advisory Co., Ltd. is the financial advisor and Asia Plus Securities Co., Ltd. is the primary underwriter. UBE Managing Director Daechapon Lersuwanaroj said listing on SET is an important step forward that will enable UBE to realize its vision of creating value-added whole agricultural products, promoting organic farming and support environmentally friendly practices towards sustainable development. The proceeds of the IPO will be used to extend and develop the efficiency of ethanol production processes, increase the production capacity of cassava flour and add value to processed products from organic farming. The three main shareholders of UBE after the IPO are Khowsurat Family (25.77%), Thaioil Ethanol Co., Ltd. (12.39%) and BBGI pcl (12.39%). UBE’s dividend policy is to pay at least 30 percent of net profit on the basis of its separate financial statements after corporate tax and legal reserves. The payment of the dividend is subject to change, depending on economic conditions, cash flow and the company’s investment plan, if applicable. For more information about UBE, please see the company’s prospectus on the Securities and Exchange Commission website at; and for general information, please visit and “SET … Make it Work for Everyone” Follow us on Twitter @SET_Thailand_FR _________________________________________________________________________


SET – The Stock Exchange of Thailand published this content on September 29, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 29, 2021 06:01:05 AM UTC.


Leave A Reply