mai welcomes food packaging manufacturer TPLAS on September 5

Stocks and Financial Services Press Releases Tuesday September 4, 2018 17:16
Bangkok--4 Sep--SET

The Market for Alternative Investment (mai) will list Thai Plastic Industrial (1994) pcl, a food packaging producer on September 5, under the ticker symbol "TPLAS". The company has a market capitalization at its initial public offering (IPO) of THB 399.60 million (approx. USD 12 million).

mai President Prapan Charoenprawatt said TPLAS would list and start trading on mai in the Industrial Industry Group. TPLAS is the manufacturer and distributor of food storage plastic bags under "Chess" brand and food wrapping film under "Vow Wrap" brand.

TPLAS produces and distributes Polypropylene (PP) plastic bag, High Density Polyethylene (HDPE) plastic bag and normal plastic bag, and Polyvinyl Chloride (PVC) food wrapping films. The company focuses on markets in local areas where its sales team can efficiently access to target customer groups nationwide.

TPLAS has a registered 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. It offered 69.12 million newly issued shares to the general public via IPO, and the remaining 880,000 shares to directors, executives and employees during August 28-30, at THB 1.48 each, for a total of THB 103.60 million. AEC Securities pcl is its financial advisor and lead underwriter.

TPLAS Managing Director Teerachai Teerarujinon said that the company is committed to delivering quality products by avoiding the use of recycled plastic pallets to ensure that the plastic products are odorless and safe for food storage. TPLAS's strength is the sales team, fully committed and prioritizing on Customer Relationship Management (CRM) to keep pace with the changing needs of customers. The fund raised from this listing would be used to invest in permanent assets including a new plant construction, new machinery installation to increase production capacity to serve market demands, as well as refurbishing the existing plant and office buildings, and to reserve as working capital.

TPLAS's three major shareholders after the IPO are Teerarujinon's family (74.19 percent), Buncha Theinsoontorn (0.85 percent) and Srisan Talomsin (0.81 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 14.8 times calculated by using the company's net profit in the past 12 months (July 1, 2017 - June 30, 2018) amounting to THB 27.30 million, divided by fully diluted shares, resulting in an earnings per share of THB 0.10. TPLAS's dividend policy is to pay no less than 30 percent of net profit after corporate income tax and legal reserves.

For more information, please see the company's prospectus at the Securities and Exchange Commission's website atwww.sec.or.th ; and for general information, please visit www.tpic.co.th , as well as www.set.or.th.


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