Ubon Bio Ethanol sets subscription price for B3.28bn IPOCassava-based ethanol maker Ubon Bio Ethanol (UBE) has set a subscription price for its initial public offering (IPO) at 2.4 baht per share as it aims to raise 3.28 billion baht to fuel its shift towards value-added food production. Proceeds from the IPO will support UBE's transformation into a major producer of organic food using technology, said the company. UBE plans to spend 70% of the budget on organic flour production, 10% on new organic agricultural product development and 20% on expansion of ethanol production. Mr Daechapon said the company wants to increase annual production capacity of organic cassava flour to 90,000 tonnes, up from 30,000 tonnes at present, to serve growing overseas demand. Mr Daechapon said organic cassava flour has a profit margin of more than 36%, higher than the 11-13% of native cassava flour.

Source: Bangkok Post September 18, 2021 00:21 UTC