BANGKOK, March 23, 2016 -The Stock Exchange of Thailand (SET) will list TPBI pcl, one of the world’s leading plastic bag producers, on March 24, under the ticker symbol "TPBI", as such being the first newly-listed company on SET in 2016. The company has a market capitalization at its initial public offering (IPO) of THB 4.32 billion (approximately USD 122.87 million).
SET Senior Executive Vice President Santi Kiranand said that TPBI would list and start trading on SET in Industrials industry group, Packaging sector, on March 24. With more than 30 years of experience, TPBI, a large integrated plastics producer and distributor in Thailand, offered various types of plastic bags covering vest carrier bags, t-shirt bags, garbage bags, fashion bags, stretched hood packaging for palletized transportation, multi-layer film, and biodegradable bags, to serve customers in various industries, retail, modern trade and large-chain supermarket around the world, especially in Australia, the United States, the United Kingdom and Japan.
TPBI has a paid-up registered capital of THB 400 million with a par value of THB 1.00 each, consisting of 300 million existing shares and 100 million newly issued shares which are offered to the general public via IPO during March 16-18 at THB 10.80 each, for a total of THB 1.08 billion. Tisco Securities Co., Ltd. is its financial advisor and underwriter.
TPBI’s CEO Somsak Borrisuttanakul said that the listing of TPBI on SET would strengthen financial capabilities. The fund raised would be used as working capital and to increase production capacity, expand business and developing environmentally friendly packaging to be in line with CSR in process policy, customer lifestyles and global demand.
TPBI's three major shareholders after IPO are Borrisuttanakul group (73.91 percent), Deutsche Bank AG, London (4.00 percent), and Cheer (Thailand) Co., Ltd (2.00 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 11.87 times calculated by using the company's 2015 net profit, divided by fully diluted shares, representing earnings per share of THB 0.91. TPBI’s dividend policy is to pay no less than 50 percent of net profits after taxes and reserves.
For more information on TPBI, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.tpbi.co.th , as well as www.set.or.th.