Thai Union Group Public Company Limited (SET: TU) has informed the Stock Exchange of Thailand that Thai Union Feedmill Public Company Limited (SET: TFM), a subsidiary in which the Company holds 51% of the total issued and paid-up shares, has informed of the resolution of Board of Directors’ Meeting No. 1/2026 held on 12 February 2026, approving an investment project for the construction of an aquaculture business in Ecuador.
TFM, or its newly established subsidiary in Ecuador, has invested in the project with a total investment value not exceeding $55 million (based on an exchange rate of THB 31.11 per $1 as of 11 February 2026, equivalent to approximately THB 1,711 million) for the purpose of conducting an aquaculture business.
TFM has also approved the change in the objectives of use of proceeds from an Initial Public Offering (IPO) (from which the company received net proceeds of approximately THB 1,177.40 million) by adding the expansion of the aquaculture business in Ecuador, reallocating the investment budget for business expansion in Indonesia, and revising the timeline for the use of proceeds as previously disclosed in the registration statement and draft prospectus. Such changes are considered non-material.
The Board of Directors has considered and determined that business expansion is reasonable and necessary to create sustainable business opportunities and returns. This action will not affect the Company’s business operations and is expected to generate maximum benefits for the Company and its shareholders going forward.
This investment will help diversify the Company’s revenue sources, reduce dependence on the Thai market, and align with the long‑term growth of the aquaculture industry in Ecuador.
