News Detail

Date/Time
04 Sep 2018 17:31:00
Headline
SET News : mai welcomes food packaging manufacturer TPLAS on September 5
Symbol
SET
Source
SET
Full Detailed News
Download Full Detailed News
                                                                                                
        SET News 71 /2018
                                                                                
          September 4, 2018

mai welcomes food packaging manufacturer TPLAS on September 5

BANGKOK, September 4, 2018 -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 at www.sec.or.th ; and for general information,
please visit www.tpic.co.th , as well as www.set.or.th.

                                 "SET...Make it Work for Everyone"
______________________________________________________________________