Nutrition Profess Uses 92 Million Baht of IPO Proceeds for New Product Advertising
Nutrition Profess (BKK:NUT) has used 91.6 million baht as working capital for advertising and public relations for its new products, as of June 30, of the total 240.2 million baht raised through its initial public offering last year, according to a Wednesday filing to the Thai stock exchange.The company spent 83 million baht of the 140 million baht allocated for working capital for advertising, public relations, content production, and engagement of presenters and influencers for its dietary supplement productsIt used 6.4 million baht of the 20 million baht kept for cosmetic products in the personal care group, and 2.2 million of the 40 million baht allocated for cosmetic products in the skincare group.The company has not yet utilized the 40.2 million baht allocated for general working capital within the business.As of June 30, the company has 148.6 million baht remaining of its IPO proceeds.
