Thai plastic bag maker TPBI to launch IPO next month

Image from pixabay.

TPBI Pcl, one of the world’s major plastic bag and film producers, plans to sell 25 per cent of its registered and paid-up capital through an initial public offering (IPO) in March.

The IPO proceeds will go towards business expansion overseas through joint venture or acquisition, said Somsak Borrisuttanakul, chief executive officer of TPBI, formerly known as Thai Plastic Bags Industries.

“We are negotiating with some foreign companies for M&A and joint venture opportunities. We would like to tap into new markets particularly ASEAN countries and Africa,” he said.

It presently has total registered and paid-up capital of 400 million baht with a par value of 1 baht apiece. Tisco Securities is a financial advisor and lead underwriter for this IPO.

Currently, it has two production plants in Thailand with total production capacity of 64,920 tonne per annum.

One plant, located in Nakhonpathom, manufactures plastic bags, garbage bags and film with the annual production capacity of 12,840 tonnes. The other with total capacity of 52,080 tonnes per year is the major production base for export to European countries, Japan and Australia.

The CEO cited that the net profit in 2015 would grow by 40 per cent from 2014 thanks to its expansion in Vietnam. It recorded total revenue of 3.46 billion baht and the net profit of 274.18 million baht for the first nine months of last year. The debt-to-equity ratio is 0.91 times.

Also read:

Thailand: IPOs show no signs of losing steam; TPBI & Chewathai latest to seek listing

Thailand: Wind Energy Holding postpones IPO to 2017

Thailand: Skincare-focussed Wuttisak Clinic targets to raise $28m in 2016 IPO

 

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.