mai welcomes lighting and Internet Every Thing product distributor ITTHI on March 22

mai President Prapan Charoenprawatt said ITTHI will be listed and start trading on mai in the Consumer Products industry group.

ITTHI distributes electronic equipment such as lighting and IET products for smart homes. The company outsources manufacturing of lighting equipment in category of light bulbs, lamps and other components for distribution under the "LIGHTTRIO" brand. Of the total revenue from electronic equipment distribution, a half is generated from LIGHTTRIO brand and the other half from other leading brands. In terms of customers, 76 percent are leading property developers.

ITTHI also produces and distributes alcohol sanitizers under the "UNION CLEAN" brand. In 2022, electronic equipment distribution and installation generated 98 percent of total revenue, and alcohol sanitizer production and distribution and others made up 2 percent.

ITTHI has a paid-up capital of THB 135 million, consisting of 200 million existing common shares and 70 million newly issued shares, with a par value of THB 0.50 each. The company offered 60 million shares to persons and institutional investors at underwriters' discretion, 9 million shares to its patrons and 1 million shares to its employees during March 14-16, 2023, at THB 3.00 each for a total of THB 210 million in fund raised. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 38.30 times. The earning per share is equal to THB 0.08, which was calculated from the company's net profit of THB 21.25 million over the past 12 months (in 2022), divided by fully diluted shares. UOB Kay Hian Securities (Thailand) pcl is the financial advisor and Finansa Securities Co., Ltd. is the lead underwriter.

ITTHI Chief Executive Officer Thanaseth Akkrabunyapath said the company is determined to develop innovations and become a leader in electric lighting products and smart technology equipment to deliver excellent services and turn all places equipped with the company's products into the best place for living. Moreover, ITTHI's products help save energy, and offer pleasant atmospheres with safety. The proceeds arising from the fundraising will be used as working capital to drive growth and yield attractive return to shareholders.

ITTHI's major shareholders after the IPO are the Akkrabunyapath family (73.33 percent) and Weerasak Kwanmongkolpong (0.74 percent). The company's dividend policy is to pay at least 40 percent of its annual net profit after tax and legal reserves.

For more information on ITTHI, 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.lighttrio.com and www.set.or.th.