BANGKOK, Nov 1, 2021 - (ACN Newswire via SEAPRWire.com) - Thai Union Feedmill PCL (SET: TFM), a manufacturer and distributor of aquaculture and commercial animal feeds, is confident of positive investor response following the company's listing on the Stock Exchange of Thailand (SET) today. Determined to be the leader in the aquaculture and commercial animal feed business, TFM aims to grow in overseas markets through cooperative agreements, joint ventures with trading partners, and direct exports in order to support food security for Asia's future.Bunluesak Sorajjakit, TFM Chief Executive Officer, said the Company, which began trading in the Agribusiness sector under the symbol "TFM", has over 20 years experience in the industry and accumulated know-how that has led to innovations in production processes. The Company has become a leader in the production and distribution of aquaculture and commercial animal feeds in Thailand, offering quality and widely-known branded products. Sorajjakit is confident that TFM's IPO will attract widespread interest among investors.Following the Company's listing on the SET, TFM is prepared for continual sustainable growth and determined to take the leadership role in the aquaculture and commercial animal feed business sector. Between 2021 and 2023, it expects to spend the proceeds from the sale of shares (1,177.4 million baht) in the following activities:i. Expand production and distribution of aquaculture feeds through Indonesia-based subsidiary TUKL by adding two lines of production, which will increase capacity by 36,000 tons per year, requiring an investment of no more than 250 million baht by 2023;ii. Repay loans of between 250-350 million baht by March 2022 to reduce the debt-to-equity (D/E) ratio to less than 1 time (x), after the IPO; andiii. Use the remainder as working capital.Moreover, as a policy, TFM intends to pay dividends twice a year, amounting to no less than 50 percent of the net profit per the consolidated financial statements after reduction of all categories of reserves according to company rules and legal requirements.The TFM CEO adds that the Company is determined to expand its operations to overseas markets with appropriate business models deemed beneficial. These are:I. Technical support to the Indian partnerAn agreement of technical cooperation with Avanti Feeds Limited (AVANTI), India's major shrimp feed producer, allows it to use TFM's trade name and feed formulae to produce and sell shrimp feed in India;II. Overseas JVs with partnersi. TFM joined with strategic partners to form PT Thai Union Karisma Lestari Co., Ltd. (TUKL), a subsidiary to produce and distribute aquaculture feeds in Indonesia. The two strategic partners are PT MSK, a major producer of frozen seafood in Indonesia, and AVANTI. TFM, PT MSK, and AVANTI hold 65 percent, 25 percent, and 10 percent of TUKL's paid-up capital respectively. ii. TFM formed a joint venture AMG-Thai Union Feedmill (Private) Limited (AMG-TFM) with a strategic partner in Pakistan. The Pakistani partner AMG is the country's major producer of aquaculture feed. AMG holds 49 percent of shares in the new company while TFM holds 51 percent as of June 30, 2021. AMG-TFM produces 7,000 tons of fish feed per year and plans to increase capacity to 15,000 tons per year within 2021. The joint venture has started commercial operations and recognized revenues with net profit since the 2nd quarter of 2021;III. Direct exports to various foreign countries, including Malaysia, Maldives, Myanmar, Pakistan and Sri Lanka.IV. Domestic market expansion, TFM plans to develop new business and continues efforts in maintaining its competitiveness as an industry leader. The Company is the first in Thailand to produce and distribute feeds in form of pellets for sea bass to replace the use of fresh prey, and also a leading producer and distributor of feeds for giant sea bass. The Company has also launched products under its "fighting" brand through a marketing campaign to expand its customer base to more diverse segments as the demand for fish feed is on the rise. The Company has set its sights on promoting feeds for other fish species and has been putting in research and development efforts on feeds for other aquatic species, such as crab and gourami. TFM envisions a growth opportunity in the commercial animal feed sector that should help support food security in Asia.Pichet Sithi-amnuay, managing director of Bualuang Securities, the financial advisor and underwriter of the Company's IPO, says that TFM, with more than 20 years of experience and expertise, a highly qualified staff, a strong capital base and access to innovations, manages to improve its competitiveness and even raise the standards of the industry as a whole. TFM is capable of producing products of high quality with consistency and high performance, contributing to the healthy growth of aquatic species. TFM can also produce a range of products encompassing the entire life cycle needs of aquaculture at competitive prices. TFM's products and brands have earned customers' trust and satisfied their diverse demands over a long period of time.For these reasons, TFM is in a prime position to pursue growth opportunities in both local and overseas markets through expansion in the production of feeds for aquatic and other types of animals. Other channels of overseas expansion include entering into cooperative agreements with local strategic partners or joint ventures to set up production bases, which will contribute to the Company's sustainable growth. Thus far, TFM has attracted great interest from institutional and retail investors. It is a clear sign of confidence that TFM shares are of strong fundamentals which should gain wide acceptance from investors.Released by Public Relations Dept., MT Multimedia Co., Ltd. for Thai Union Feedmill Public Company LimitedFor more information, please contact: Ornanong Pattaravejakul (Fah)Tel: +66-99-194-6597, +66-86-801-8888, Email: ornanong.p@mtmultimedia.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)